Samsung Electronics has said its mobile payment system is secure after hackers attacked its US-based subsidiary LoopPay.

LoopPay was purchased by the company in February and developed the payment system used to run Samsung Pay.
Samsung
An article in the New York Times on Wednesday said that the hacking incident had occurred in March by Chinese hackers, called the Codoso group. Samsung has said that user data was not at risk, even though the issue was not discovered until five months later.
Samsung said its payment system “was not impacted and at no point was any personal payment information at risk”.

Samsung pay competes against Apple’s pay facility which launched last year and operates both in the UK and the US. The mobile payment systems are designed to enable shoppers to use their handsets to make in-store purchases rather than using cards.

 

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