Samsung has assured users that their information is safe following a computer intrusion of a key company linked to its mobile payment system. The intrusion of LoopPay by a gang of hackers known as the Codoso or Sunshock Group may have occurred as early as March. Samsung purchased LoopPay for $250 million in February. Its technology — which the company’s newly launched mobile payment system, Samsung Pay, uses — allows mobile phones to perform payment card transactions with older POS terminals that recognize only cards with magnetic strips.
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User Info Safe After LoopPay Attack, Says Samsung
Posted by: John P. Mello Jr. October 9, 2015 03:58 PMSamsung has assured users that their information is safe following a computer intrusion of a key company linked to its mobile payment system. The intrusion of LoopPay by a gang of hackers known as the Codoso or Sunshock Group may have occurred as early as March. Samsung purchased LoopPay for $250 million in February. Its technology — which the company’s newly launched mobile payment system, Samsung Pay, uses — allows mobile phones to perform payment card transactions with older POS terminals that recognize only cards with magnetic strips.