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Articles tagged with: Jack Dorsey

Co-Founder Stone Leaving Twitter

Biz Stone, who helped launch the microblogging service in 2006, is leaving day-to-day work at the company. Although he will remain involved with Twitter, most of his time will be spent on the relaunch of the start-up where Twitter was first developed: the Obvious Corp.

The departure marks the latest shift among the executive ranks at Twitter. Jack Dorsey, who came up with the idea for the microblog, returned in March as product chief, two years after being replaced as chief executive by the third co-founder, Ev Williams. Mr. Williams stepped down as CEO in October and was replaced by current CEO Dick Costolo.

Squaring It Off – VeriFone Tackles Mobile Payment Square

In an open letter to consumer and the credit card industry, VeriFone claims that Square, a startup that makes credit card readers for smart phones, is plagued by a “serious security flaw” that puts users’ data at risk.

According to VeriFone, the problem is not with the application but rather with the dongle that connects to the devices. This dongle reads credit card information off the magnetic strip and transfers it to the device unencrypted in clear text, allowing anyone to write a bogus skimming application to quickly collect all information from credit cards. This collected information could then be used to make purchases with your credit card via the web or through various merchants across the world.