Payment technology

LifeLock to discontinue mobile wallet application over security concerns

Mobile WalletLifeLock announced in a blog post last week that the company has removed its mobile wallet application, citing aspects of the mobile app that may not completely comply with PCI security standards.

The LifeLock Wallet app will be removed from the Apple App Store, Amazon Apps and Google Play. Information for current users of the app will be deleted when the app is re-launched on the user’s device.

“We have taken steps to delete all stored information for the mobile app from our servers,” LifeLock Chairman and CEO Todd Davis said in the blog post. “Even though we have no reason to believe the data has been compromised, we believe this is the right thing to do. As a company dedicated to online security and safety, we are committed to doing everything we can to ensure those who trust us with their personal information can do so without question.”

Davis said LifeLock plans to develop and offer another mobile wallet solution in the future.

“We believe the LifeLock Wallet provides services and functionality that users value, and we’ll be working to return a Wallet with the highest level of PCI compliance to users soon,” Davis said.

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