Venmo flaw allowed attackers to use Siri to drain accounts

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money
You might wanna check your account.
Photo: Jim Merithew/Cult of Mac

A critical flaw with PayPal-owned Venmo left iPhone users’ accounts exposed to a lethal account that could have allowed attackers to steal $2,999.99 in just two minutes.

The Venmo security flaw was discovered by Salesforce security engineer Martin Vigo who found that Siri can be used on locked iPhones to drain an account just by sending a few text messages.

Check out the hack in action:

Apple Pay may take on PayPal with web payments

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Apple Pay is everywhere.
Apple Pay is everywhere.
Photo: Apple

Pretty soon when you’re shopping online, Apple Pay might become the quickest way to checkout instead of using PayPal.

Rumors have been floating around the web for months that Apple plans to bring Apple Pay to the web and according to a new report, Apple’s WWDC 2016 keynote will be the site of the grand unveiling.

In China, the Alipay app is as good as cash

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Everyone accepts Zhifubao, China's answer to Paypal, even street vendors.
Everyone accepts Zhifubao, China's answer to Paypal, even street vendors.
Photo: Virginia Werner/Cult of Mac

Made_in_china_bugMainland China is Apple’s second biggest market, and will one day be its first. Apple is making a big push on the mainland, opening new stores and investing in home-grown companies. Why the interest? Because China is the new Japan — it’s where the future is happening. All this week we take a look at the cutting-edge apps that define mobile life on the mainland.

SHANGHAI CITY, China — The common question when conducting any kind of financial transaction in China is: “Cash or Zhifubao?” I have used Alipay in a wide variety of settings — paying for products online or meals at restaurants, sending rent money to my landlord, or squaring up with a taxi driver. It was easy to set up, after I spent all of 15 minutes creating a Chinese bank account at my local branch of the Industrial and Commercial Bank of China.

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Apple Pay is expanding to mobile websites

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Apple Pay is everywhere.
Apple Pay is everywhere.
Photo: Apple

Using Apple Pay to buy items has been limited to physical retail stores and apps, but Apple is reportedly planning to rollout the service soon to mobile websites, putting it in closer competition with PayPal and other platforms.

The mobile website version of Apple Pay will allegedly be ready in time for the 2016 holiday shopping season. Once launched, the mobile version will allow shoppers to complete purchases using their fingerprint rather than entering credit card info on websites.

Amazon barges into mobile payments ring

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A newspaper story that alleges brutal workplace conditions at Amazon has been the talk of the web.
Pay with Amazon buttons have plenty of ammo given the over 200 million Amazon accounts.
Photo: Roberto Baldwin/The Next Web

Amazon will start taking more advantage of the millions of credit cards it has on file with new “Pay with Amazon” buttons. The expansion to Amazon Payments will allow third-party developers to include these buttons in their mobile apps and have users quickly sign in to process payments. Since all their payment information is already with Amazon, checkout processes should be much speedier without having to reenter everything. It looks like Apple Pay and PayPal need to watch out.

eBay raids Apple for payment talent to work on possible Apple Pay rival

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Apple Pay is awesome, but where do they accept it?
Apple Pay is setting the gold standard for mobile payments. Photo: Jim Merithew/Cult of Mac
Photo: Jim Merithew/Cult of Mac

Post-Apple Pay, everyone is looking to Cupertino when it comes to innovation in the mobile payment sector. eBay is no different — with the online auction company starting up a new division, designed especially to develop payment-related technology.

And wouldn’t you know it? It’s filling it with ex-Apple folk.

PayPal got kicked out of Apple Pay for partnering with Samsung

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applepay

Apple Pay’s launch in the U.S. next month is being supported by some of the biggest players in the payments industry in the country except PayPal, but according to a report from Banking Innovation, Apple actually wanted PayPal to be the “preferred payment process” for Apple Pay.

Talks between PayPal and Apple began at the early stages of Apple Pay’s development, but after PayPal decided to partner with Samsung on the Galaxy S5, Apple execs got so mad they nuked the talks altogether.