It really doesn’t get more corporate punk-ass than this, folks.
Yesterday, Verifone’s CEO wrote an open letter alleging that their competitor, mobile payments startup Square, was an insecure payment method (because of an app Verifone created themselves). In case you’re unfamiliar with Square, it’s a device the Girls Scouts and others can use to swipe credit cards from their iPhones…. and its free. Verifone doesn’t like that too much, becuase they actually created an app that exploits Squares weaknesses and allows the Girl Scouts to store/steal their customers’ credit card info. Yes, that’s right… Verifone, a publicly traded company on the NYSE created an app that helps people commit credit card fraud. What a cowardly and sleazy move.
Here’s an excerpt from Verifone CEO Doug Bergeron‘s letter:
Don’t take our word for it. See for yourself at http://www.sq-skim.com where you can download the sample skimming application and view a video of this type of fraud in action.
You sound like a 3-year-old, Doug. This is like an insurance salesman telling you that you need insurance for your house, and after you tell him you’re okay, he lights your house on fire… Again, what a cowardly and sleazy move.
I’m not going to participate any longer in this little spat, but in case you are willing to, here’s Square’s CEO Jack Dorsey’s rebuttal. Jack took the high road.