Samsung reassures customers after hack of Samsung Pay provider LoopPay is uncovered
Samsung has reassured customers after it was revealed that the company’s new mobile payment system’s provider was hacked for months.
LoopPay, the company that provides integral technology to Samsung’s mobile payment system, was infiltrated by Chinese hackers in February, the New York Times revealed yesterday. The hackers had access to the network since at least March until the point they were discovered in August.
Confirming that the attack had taken place, Samsung today put out a statement hoping to reassure its customers. Users of Samsung Pay were never at risk, the Korean tech giant said:
The reported incident was related to LoopPay’s office network which handles email, file servers and printing within the company.
Samsung Pay was not impacted and at no point was any personal payment information at risk.
The company’s new mobile payment system differs from rivals Apple and Google’s offerings, as it is compatible with existing credit card terminals. In other words, shops don’t need to upgrade their systems to be able to accept it.