Main company behind Samsung Pay tech breached by Chinese hackers

October 8, 2015

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.

At the same time, though, Chinese hackers were breaching the computer network of LoopPay, a startup Samsung bought in February for more than $250 million, which is responsible for part of the technology that makes Samsung Pay work.

LoopPay only learned about the breach in August, at a time when Samsung was preparing to launch the service in the U.S.

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