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Representatives of the payment industry take issue with that characterization.
To reinvent the payment industry, Dorsey avoided hiring employees who came from it.
"It's like Christmas shopping," said James Wester, a payment industry analyst with research group IDC.
Electronic payment industry officials also said the latest data thefts were not evidence of a larger problem.
Merchants now pay debit card processing fees averaging about 1.3 percent, according to the Nilson Report, a payment industry newsletter.
The abuse of personal banking details cost an estimated £140m last year, according to payment industry body Apacs.
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Roughly 70 percent of the attacks were in the financial services and online payment industries.
Flagship trade journal for the payments industry.
"The payments industry is ready to be disrupted".
The mobile payments industry is banking on it.
In 2015, fraud in the UK payments industry totalled £755m.
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