EVO Strengthens Commitment to Worldwide Mobile Payments with Support for Apple

Responding to a news report, Samsung Electronics Co. “This network is physically separate from the production network that handles payment transactions and run by Samsung”. “The LoopPay corporate network issue was resolved immediately and had nothing to do with Samsung Pay”.

The South Korean tech giant is also set to roll out Samsung Pay by using LoopPay. The affected servers have been isolated and no personal payment information was put at risk, according to Samsung. Three servers on LoopPay’s internal network were impacted in the attack.

Another notably unique detail in the Times report is the fact that LoopPay has not alerted law enforcement officials to the breach, reportedly due to the fact that no financial or consumer data was stolen.

The Verge said that Verizon Wireless has had “a turbulent history” with mobile payments, as in the past it has sought and succeeded in disabling near-field communications, keeping Google Wallet off its network.

Samsung added that Samsung Pay is a secure system and the data is stored under highly secure encryption algorithms. Unfortunately, there isn’t much Samsung or LoopPay can do about this now aside from bolster security.

In a multistage Codoso attack of Forbes in February, for example, the group infected the website of Forbes.com with malicious code that infected the site’s visitors.

Samsung introduced Samsung Pay in the United States just 38 days after LoopPay learned it had been breached. “LoopPay brought in two independent professional security teams”, reads the blog post.

One of the big new features Samsung has been touting this year is Samsung Pay, or Samsung’s own Apple Pay rival that it touted as “ready to go” at more shops than Apple Pay could ever reach, as it didn’t require special hardware from retailers.

The attack was carried out by Chinese groups known as “Codoso Group” or “Sunshock Group” and it could have started in March 2015.

KitGuru Says: Chinese hackers have been going after plenty of USA companies recently.