March 17, 2016Blog Posts

Square faces Commonwealth Bank’s concerns over mPOS security

Finextra

Square’s move into Australia has gotten off to a rocky start, with Commonwealth Bank only agreeing to lift a security-related block on the mPOS service after an intervention from Visa and MasterCard. When Square brought its mPOS service to Australia earlier this month, the security of its card reader was brought into question. Although the device, designed for the US market, accepts chip cards it does not have an inbuilt PIN pad.

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