Apple Inc. (AAPL) Crushed 500 Payment Method Rivals?


Apple Inc. (NASDAQ:AAPL) Pay’s biggest rival, CurrentC has been attacked by hackers and several email addresses linked with the payment method which was set to launch very soon have been compromised. This is possibly the worst time for such a news for CurrentC because it was in phase of gaining new customers and user base. Apple Inc. (NASDAQ:AAPL)’s mobile payment system has been ditched by many retailers recently and experts were indicating that this is to pave the way for CurrentC. After the latest attack, not only the image of CurrentC will be damaged, a lot of people will distance themselves from it because of security vulnerabilities.

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In a program on CNBC Mary Thompson reported on CurrentC hack and said that the company is investigating the issue. CurrentC is a joint payment method of famous retailers like Walmart, CVS and Rite Aid. Rite Aid recently removed all NFC equipment from its point of sales terminals and said that it will not accept Apple Inc. (NASDAQ:AAPL)’s payment system on its stores. This was a massive blow for Apple but after the latest news, Apple Inc. (NASDAQ:AAPL)’s mobile payment system has probably no rival at all in the retail market. There are around 500 partners in CurrentC payment system.

Thompson quoted CurrentC’s spokesperson who said that most of the data which is hacked was dummy and there is no damage done to the actual application of CurrentC. The compromised users have been notified about the attack. Apple Inc. (NASDAQ:AAPL)’s payment system has a strong future in the US. Its security has been approved many experts, but the retailers are not happy from Apple Inc. (NASDAQ:AAPL) Pay.

 Carl Icahn‘s Icahn Capital hold around 52.8 million shares of  Apple Inc. (NASDAQ:AAPL).

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