US identity theft protection company LifeLock has withdrawn its wallet app and deleted user data over concerns the technology didn’t comply with the industry’s Data Security Standard (PCI DSS).

LifeLock’s chairman Todd Davis insisted on the fact that the app was being suspended as a precaution and not in response to a security breach.

He said: "We are removing the LifeLock Wallet application from the App Store, Amazon Apps, and Google Play, and when users open the LifeLock Wallet, their information will be deleted in the app.

"Even though we have no reason to believe the data has been compromised, we believe this is the right thing to do."

The company however stated that this withdrawal would not affect the ‘ID theft protection service’, which is designed to detect fraudulent abuse of credit card and non-credit card related services.

"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," added Davis.

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LifeLock stated that it was working to soon return a wallet application with "the highest level of PCI compliance".

Users expressed their confusion on Twitter. @AdamJ8 said: "You deleted my wallet data? Of which I spent hours entering? Help!"

@dapinski said: "#LifeLock just sent out a notice that their mobile wallet app is not #PCI compliant. You’d think they’d know better. #Failure."

Others were more understanding, such as @OmegaHelios: "@LifeLock, I just wanted to say thanks for being so transparent and forward. ? Looking forward ‘LLWallet’ return."

LifeLock had launched its wallet app in December 2013, soon after the acquisition of mobile wallet innovator Lemon.

At the time, Davis had commented: "The acquisition of Lemon dramatically expends our mobile capabilities, enabling us to launch a robust consumer wallet app in the marketplace on day one."

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