Tag Archive: LoopPay

Samsung says attack on LoopPay limited to an office network

Earlier today a report from The New York Times said that LoopPay, the company that Samsung acquired to help power its Samsung Pay mobile payments service, had been the target of a recent “sophisticated” hack. However, Samsung has now responded to the article noting that Samsung Pay was in no way compromised, and the hack was limited to LoopPay’s office network and was quickly addressed.

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Samsung acquires mobile payments company LoopPay

It looks like Samsung is ready to take Apple head-on in the mobile payments arena. The company announced today that it will acquire LoopPay, an Apple Pay competitor that works with existing magnetic strip readers.