Samsung has said that a hack at LoopPay reported in the New York Times did not compromise any of its customer data. LoopPay’s technology forms part of the company’s electronic wallet offering, Samsung Pay.
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 office network, which is a physically separate network from Samsung Pay. The LoopPay incident was resolved and had nothing to do with Samsung Pay …
The NYT reports that Chinese hackers breached the computer network of LoopPay as long ago as March, but the company didn’t discover the intrusion until August.
Samsung announced its acquisition of LoopPay back in February, saying then that LoopPay’s founders would remain on board.
Samsung recently reported that Korean transactions of $30M exceeded the company’s expectations in the run-up to the US launch. The service is currently available only on the Galaxy S6/Edge/Edge+, Galaxy Note 5 and Gear S2 watch, but the company plans to “gradually expand” to non-flagship models.
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