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October 8, 2015

Samsung Pay not affected in LoopPay hack, says Samsung

News: The mobile payment service was launched in the US in the end of last month.

By CBR Staff Writer

Tech giant Samsung Electronics has confirmed that the user data of its recently launched mobile payment service in the US is safe.

Termed as Samsung Pay, the ‘secure and easy-to-use’ service was initially launched in Korea on 20 August, and later introduced in the US by September.

The security confirmation, however, comes after the New York Times recently reported a hacking attack against the firm’s US based subsidiary, LoopPay, in March.

LoopPay, which was acquired by Samsung in February this year, is the developer for the payment system on which Samsung Pay is based.

A group of Chinese hackers had accessed LoopPay’s office network which was later discovered in August. The entity has hired two private forensics teams to investigate the incident.

Samsung chief privacy officer Darlene Cedres was quoted by International Business Times as saying: "Samsung Pay was not impacted and at no point was any personal payment information at risk.

"This was an isolated incident that targeted the LoopPay corporate network, which is a physically separate network."

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Samsung Pay operates through its own mobile division, the firm revealed.

 

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