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This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Samsung Pay says its users’ data is safe despite Chinese hackers breaching LoopPay, the mobile wallet solutions provider Samsung acquired in February.

Samsung said the attack targeted the LoopPay office network — a system that handles e-mail, file servers and printing.
Samsung added LoopPay to the fold in February to challenge its chief rival Apple’s new mobile pay system. Boston-based LoopPay, founded in 2012, is already accepted at more merchants than any other digital wallet solution courtesy of its Magnetic Secure Transmission (MST) technology. Thanks for shared and aware of this kind of information, further company will be secure of their data.

Upon discovering the breach, LoopPay brought in two independent professional security teams and “immediately identified and quarantined the targeted devices.” The firm then conducted a thorough and extensive sweep of its entire system, and has since installed additional safeguards.
The technology enables existing mag stripe readers to become mobile contactless receivers without any extra costs to retailers or their payment processors.

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