Samsung Pay Vulnerability allows Hackers to make Fraudulent Transactions

The token-based payment system developed by Samsung called Samsung Pay is vulnerable to credit fraud as hackers can use the tokens generated to carry out transactions remotely, ZDNet reports.

Samsung Pay is a magnetic-based contactless system that was created in order to do away with the need for entering your credit card details anywhere. This system comes as a standard in some newer Samsung phones and works by means of translating credit card data into tokens.

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