CurrentC is the mobile pay system supported by the Merchants Consumer Exchange that is set to be the direct competitor of Apple Pay. CurrentC is funded by Walmart, Best Buy, the Gap and so on. It looks to eliminate the third party middle man in transactions also known as credit cards. Merchants are looking to create a service that doesn’t need extra credit card fees and connects directly to your bank accounts.
But even in development stages, the service has hit some scandals! CurrentC was boasted as being secure. However, early testers of the app were recently sent an email explaining that their email addresses may have been stolen. Early adopters of CurrentC received an email reading:
“Thank you for your interest in CurrentC. You are receiving this message because you are either a participant in our pilot program or requested information about CurrentC. Within the last 36 hours, we learned that unauthorized third parties obtained the e-mail addresses of some of you. Based on investigations conducted by MCX security personnel, only these e-mail addresses were involved and no other information.”
CurrentC has never asked for any personal and sensitive data information such as bank account passwords and social security numbers. Hence, fortunately, all the hackers have are email addresses.
The only statement managed to be pried out of CurrentC is a PR rep stating:
Many of these email addresses are dummy accounts used for testing purposes only. The CurrentC app itself was not affected. We have notified our merchant partners about this incident and directly communicated with each of the individuals whose email addresses were involved. We take the security of our users’ information extremely seriously. MCX is continuing to investigate this situation and will provide updates as necessary.”
Source: Android Authority