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Tuesday, August 9, 2016

Samsung Pay exploit could allow hackers to “skim” credit cards, in theory

Samsung Pay exploit could allow hackers to “skim” credit cards, in theory:


There's a clever security technique built into Samsung's mobile payments service. When you make a purchase with Samsung Pay, you don't reveal any of your payment card info to the merchant because each transaction is tokenized. Tokenization is the process of obfuscating the user's actual payment card number by replacing it with a virtual one called a token. The generated token is used for sending the transaction to the card's payment network, where it is decrypted and the transaction is authorized. The user's actual payment card information is not revealed to the merchant ...


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