In an "open letter," VeriFone CEO Doug Bergeron warns consumers and the industry of a serious security threat with Square?s card reader and calls on Square to recall its devices (we've pasted the letter below). Bergeron claims that anyone can "skim" or steal personal information off of a credit card's magnetic strip using the Square card reader with a hacked app and to illustrate the vulnerability, VeriFone wrote a test app that can ?skim? to prove their assertions.
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