Samsung Pay has been getting some favourable reviews, thanks to its ease of use and wide compatibility but this report by NY Times doesn’t bode well for the Korean giant and its payment service.
According to the report, LoopPay, which Samsung bought and now uses their technology in its Samsung Pay service, was hacked by a government-affiliated Chinese hackers.
Identified as Codoso Group, the hackers managed to get access to LoopPay’s corporate network and were inside the network for a good five months before they were discovered in late August.
Will Graylin, LoopPay’s chief executive and co-general manager of Samsung Pay however, brushes the concerned aside claiming there were no indications of an infiltration in the production system, where the payments are processed and consumer data are stored.
Furthermore, to alleviate the concern, Darlene Cedres, Samsung’s chief privacy officer says “Samsung Pay was not impacted and at no point was any personal payment information at risk.”
Interesingly, security experts are still cautious as Codoso is known for planting hidden back doors to gain access to the server again.
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