Security researcher Salvador Mendoza recently discovered a security flaw in Samsung Pay and discussed it during his Black Hat talk in Las Vegas. Basically Samsung Pay generates tokens each time a transaction is made. The idea is that this will mask the credit card information so that in the event it is intercepted, the details can’t be seen by the hacker. However according to Mendoza, he claims that with every token that Samsung Pay generates, the process becomes weaker and weaker till the point where if used enough times, a hacker could predict future tokens and steal them for use in another device. George Rice, senior director, payments at HPE Security – Data Security commented below.
George Rice, Senior Director, Payments atHPE Security:
“Mobile devices offer many consumer conveniences, which are often driven by the quick and easy access to sensitive data. Mobile payments applications like Samsung Pay are no different, storing an individual’s preferred payment cards in its phone-based app. Many mobile wallet providers use surrogate card values called payment tokens to reduce exposure of sensitive data when transmitting to the payment acceptance business. This announcement of Samsung Pay’s security flaw highlights that payment tokens still have value to criminals who may capture and use stolen payment tokens for fraudulent transactions. Businesses and consumers must recognise that mobile devices are inherently insecure data environments, and use a combination of encryption and tokenization to achieve maximum protection of sensitive data. Techniques like format-preserving encryption allow mobile wallets to encrypt credit card information, payment tokens and personal information (e.g. date of birth, SSN) immediately upon capture so the data is useless if even stolen by data thieves.”
ISBuzz Team embodies the collaborative efforts of the dedicated staff at Information Security Buzz, converging a wide range of skills and viewpoints to present a unified, engaging voice in the information security realm. This entity isn't tied to a single individual; instead, it's a dynamic embodiment of a team diligently working behind the scenes to keep you updated and secure. When you read a post from ISBuzz Team, you're receiving the most relevant and actionable insights, curated and crafted by professionals tuned in to the pulse of the cybersecurity world. ISBuzz Team - your reliable compass in the fast-evolving landscape of information security
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.