Samsung-Pay-03For those unfamiliar, LoopPay is the service that powers Samsung’s mobile payments service, Samsung Pay. According to a recent report by the New York Times, it seems that hackers in China have managed to breach LoopPay, throwing everyone into a frenzy thinking that Samsung Pay could have also been breached.While the hack did happen, Samsung has since come forward with a statement to reassure their users that Samsung Pay has not been affected. According to Samsung, “The first thing to know is that Samsung Pay was not impacted and at no point was any personal payment information at risk. This was an isolated incident that targeted the LoopPay office network, which is a physically separate network from Samsung Pay.”The hack, according to the report, basically targeted LoopPay’s office meaning that if there was any data breached, it would be emails sent within LoopPay’s own network, the same network that handles file servers and printing within the company. The network that handles Samsung Pay is physically separate and is run by Samsung themselves, so customers can rest easy.No doubt an issue like this would upset the progress of Samsung Pay, which last we heard was coming along rather nicely. The service has managed to see 500,000 subscribers since its launch in South Korea, and has handled $30 million in transactions during its first month.

Filed in Cellphones. Read more about Hacking, Samsung, Samsung Pay and Security.

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