LifeLock, the company that promises customers safety from credit and identity theft, has temporarily shut down one of its services. The company has taken down its LifeLock Wallet app from the Apple App Store, Google Play, and Amazon's mobile app store. LifeLock cited security concerns as the reason for the app's removal.
In a blog post issued last week, LifeLock CEO Todd Davis (the man who revealed his social security number for a now-infamous marketing campaign), issued a statement in the interests of "authenticity and transparency." Davis revealed that the LifeLock Wallet app was not up to payment card industry (PCI) compliance standards. The app was pulled from stores when LifeLock learned that certain parts of the app were not in compliance.
According to Davis, LifeLock does not have evidence that any of its customers' bank accounts, credit cards, or identities were compromised. Even so, the company has taken the drastic step of deleting all customer information it had stored on its servers using the app. Users will have all of the data stored locally by the app deleted when the app is started on their mobile device. Davis stated that these steps are being taken to retain customer trust in the company and to emphasize LifeLock's commitment to keeping customer data safe.
Davis also issued an apology to LifeLock customers, stating that the app should be back in mobile stores soon. From the statement:
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.
We know we’re asking a lot of our LifeLock Wallet users - to delete and go without this application for a period of time. I personally apologize for the inconvenience.
Lifelock's mobile app was based on the Lemon Wallet, a cloud-based digital wallet app created by the startup company Lemon. Lifelock acquired Lemon in December 2013 for over $42 million. The re-branded LifeLock app was featured prominently in a marketing campaign the company began in February.
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