Wednesday, March 9, 2011

Today I Learned What FUD Means

I was perusing the web and came across an article on Square and their credit card reader. Apparently, a rival company's CEO, not some marketing weasel, decided to announce that there were security problems with the system and to be aware of it.

The guy produced a YouTube video that showed how an alternate program was created and run on the iPhone which looks like the Square app but can be used to take credit card numbers after they have been swiped and can, get this, store them so that they can be used again (illegally, of course). Someone should have told this guy that there already was a technology out there that has been around for ages that does the exact same thing; its called a pencil and paper.

If someone wanted to keep that information and exploit it, the user gave them the card already, just as they would while using their rival system.

So in the end, this CEO comes across as such an arrogant ass for producing a video that shows how a rivals software can be exploited and then puts the software out there as a proof that this can be done, opening up himself and his company up to all kinds of lawsuits and proving nothing more than that he is scared of Square.

FUD is short for "Fear", "Uncertainty" and "Doubt", which is a classic marketing gimmick to create these feelings in customers to get them to not use your rivals product, which will get them to use yours. This guy failed big time and should probably be shown the door. Horrible PR mess this guy has created for himself and his company.

Here is the story, its a great read. Click Here

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