Updated with an official statement from Samsung, see below.
A security vulnerability in Samsung’s mobile payment system, Samsung Pay apparently lets hackers wirelessly steal credit card information.
The hack was revealed in a video by security researcher Salvador Mendoza and it uses the tokens that Samsung Pay uses in transactions, have a look at the video below.
As yet there is no official word from Samsung on this particular security issue with their mobile payment system, or whether it has been fixed, although they did give the following statement.
“If at any time there is a potential vulnerability, we will act promptly to investigate and resolve the issue.” It also wants to remind all users that “Samsung Pay is built with the most advanced security features, assuring all payment credentials are encrypted and kept safe, coupled with the Samsung Knox security platform.”
Samsung has now released an official statement which you can see below.
We are aware of a recent and inaccurate report regarding the security of Samsung Pay. We would like to clarify that Samsung Pay is built with highly secure technology and is the most widely accepted mobile payment solution available today.
Each Samsung Pay transaction uses a digital token to replace a card number. The encrypted token combined with certificate information goes through multiple security layers and can be used only once to make a payment. Samsung Pay is designed so that merchants and retailers cannot see or store the actual card data, and our customers are notified with each transaction. Multiple layers of security from Samsung Pay and our partners are in place to detect threats to security.
Security is our number one priority at Samsung — and always will be. We are committed to securing and protecting user data.
Samsung Pay is off to an amazing start and we are proud to offer the only mobile payment option that works almost anywhere you can swipe or tap a card today.
You can see more details over at Samsung.