A Letter on Credit Card Security and Square

Jack Dorsey responds to Square competitor VeriFone’s spurious attack on putative security flaws in Square’s payment system.

If you provide your credit card to someone who intends to steal from you, they already have everything they need.

I like that Dorsey’s letter links to live responses on Twitter about his company, not a preselected set of tweets. That link could have anything on it, positive or negative, but he knows that his competitor’s claims are bogus and his customers are behind him.

See also this post pointing out that in 2007, after an actual security flaw in its own system had been released, VeriFone made a statement that financial companies should not do exactly what it’s just done to Square, namely publish security flaws that could give criminals ideas. (And again, what VeriFone accuses Square of isn’t a flaw, it’s just a fact that anyone you give your credit card to could steal your number. VeriFone is afraid of Square’s new low rates.) (via)


A Letter on Credit Card Security and Square