Square Mobile Easy Prey for Hackers - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Square Mobile Easy Prey for Hackers

Square Mobile Easy Prey for Hackers

Square Mobile Easy Prey for Hackers
The content is accurate at the time of publication and is subject to change.

At the recent Black Hat Technical Security conference in Las Vegas, two researchers from the UK-based Research and Development Company, Aperture Labs, demonstrated the easy hackability of the Square payment system. Square is the mobile payment technology that turns any iPad, iPhone or Android mobile device into a point of sale credit card processor. It’s made possible just with the aid of a “pocket-sized credit card reader that plugs into your phone’s audio jack,” according to their website. Aperture Labs directors Adam Laurie and Zac Franken revealed not only one, but two, ways to commit credit card fraud using Square.

“The dongle is a skimmer. It turns any iPhone into a skimmer,” Laurie said at Black Hat, as reported by cnet.com. It makes life easier for thieves looking to clone a card because, “now you need less technical hardware to do it and no technical skills at all.” Therefore: nearly anyone with the right knowhow can become a criminal.

During a legitimate transaction, Square converts the data gleaned from the magnetic swipe strip on a credit card into an audio file, which is then transmitted for authorization to the card issuer. Laurie and Franken demonstrated how, by using a code that is relatively simple to generate, hackers can convert the data gathered from the stolen magnetic strips. They use a microphone to transform them into audio files, which can then be submitted for processing directly to the Square app, no card needing to be physically present.

The cloning of cards is also possible bysimilar means. The thief swipes a card to grab magnetic strip data, converting it into audio, then, using the same code as before, translates the audio into credit card information.

All this is feasible because Square’s card reader dongle doesn’t currently employ any means of encrypting or authenticating card data.

The Wall Street Journal reports that Aperture’s Laurie and Franken have disclosed the dongle’s vulnerability to Square several months ago and Laurie reassured those present at Black Hat that there’s no risk to people using Square. Franken claimed that Square is in the process of issuing new dongles that encrypt the data.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Getting Quadruple Points with the New Business Gold Card by American Express

Posted: November 12, 2018

American Express is rolling out a new credit card for small businesses, offering quadruple reward points on the two categories in which they spend the most during the month. There are six categories they can earn these enhanced rewards in, ... Continue reading
Now Cardholders can use Ultimate Rewards for Apple Products

Posted: November 9, 2018

Chase credit card holders can now use their rewards to buy Apple products via the new Apple Ultimate Rewards Store. When shopping in the new store people with a Chase Sapphire, Freedom and Ink credit card can use their reward points to pay ... Continue reading
Contactless Credit Cards by Chase

Posted: November 8, 2018

Chase Cardholders will soon be able to make payments without swiping or dipping because Chase is going contactless. The new cards will have contactless technology built directly into the card. This way when they are at a contactless ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!