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The death of QR Code based payment methods? - 7 Pay hacked!
Just been announced over the past couple of days that 7 Pay which launched on 1st July has been hacked and the total damage is circa 5,500 Man Ye.
That as well as the furore with Pay Pay's screwup. Think this meas the end of world+ dog trying to bustle in on QR Code payments ? Maybe Apple Pay / Suica will start to win now? |
I think this is just an another example of online system being hacked, and not specific to QR Code system. 7 Pay system was hacked in less than 4 days of start of the service, this suggest that it is unlikely that hackers figured vulnerability of the system within few days but possible that insiders were involved and hackers were working on hacking the system way before 7 Pay went into the service to public.
When security audit is done on computer systems, always comes out that weakest point is human factor. People working on the system, as it be system engineer or customer service, knowingly or unknowingly gave out information to hackers looking to hack the system. It is a very bad publicity for 7 & I Holdings which operates 7 Pay system and 7 Eleven convenience stores. True, it is possible that 7 Eleven is now in further disadvantage in market of cashless payment system. |
I consider it a good thing almost, there is no reason for there to be so many of these Pay systems springing up, it seems like every month there's a new service. Due to competition the bad ones and ones with bad security will die out and eventually there will only be a few survivors which are tried and true. Still, I wonder what's going to happen to the landscape when all of these huge promotions are completed, personally I don't know a single person among my group of friends (and many of them are pretty tech-savvy) who uses these QR code systems. I only use them if the shop has no other kind of credit card/traditional digital payment system available.
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Originally Posted by bigmadden
(Post 31279788)
I consider it a good thing almost, there is no reason for there to be so many of these Pay systems springing up, it seems like every month there's a new service. Due to competition the bad ones and ones with bad security will die out and eventually there will only be a few survivors which are tried and true. Still, I wonder what's going to happen to the landscape when all of these huge promotions are completed, personally I don't know a single person among my group of friends (and many of them are pretty tech-savvy) who uses these QR code systems. I only use them if the shop has no other kind of credit card/traditional digital payment system available.
After that I'll go back to using the prepaid ID card Kinda scared because there is absolutely NO security on the app - not even a touch ID check. So technically if someone could get bast the initial touch id check on my stolen phone they could rack up a huge bill just like that. |
7-Pay QR will be discontinued Sept 30 https://atadistance.net/2019/08/01/7...kills-7pay-qr/
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