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Fortune reports that Starbucks is denying some press reports that hackers had gained access to its mobile payments app and were siphoning money from customers' accounts.

The story says that Starbucks released a statement saying that it "“takes the obligation to protect customers’ information seriously. News reports that the Starbucks mobile app has been hacked are false."

The story notes that "Starbucks can ill-afford any bad publicity around the app. Its mobile payment service is an industry-leading success, behind some 16% of purchases ... The app helps foster customer loyalty but also reduces the interchange transaction fees charges it would pay credit and debit card issuers."
KC's View:
If Starbucks is being disingenuous about this, or if there really has been a hacking incident, it is going to do real damage to the mobile app business. I'm a big user of the app, and I'd almost certainly stop if I thought my data was at significant risk.