Keeping payment information safe is a top priority for Samsung Pay which is why Samsung Pay is built with highly advanced security features. It is important to note that Samsung Pay does not use the algorithm claimed in the Black Hat presentation to encrypt payment credentials or generate cryptograms.
Samsung Pay is considered safer than payment cards because it transmits one time use data at the vast majority of merchants that do not yet have EMV (smart payment) terminals. With Samsung Pay, users do not have to swipe a static magnetic stripe card.
Frequently asked questions on this statement may be found here.
For additional information on Samsung Pay Security, please visit here.
Since August of 2015, Samsung has been diligently rolling out security updates for Stagefright and Stagefright 2.0 issues via fast-tracked updates and monthly security updates.
Please see below for additional information on the security updates for Stagefright and Stagefright 2.0 issues:
CVE-2015-1538, CVE-2015-1539, CVE-2015-3824, CVE-2015-3826, CVE-2015-3827, CVE-2015-3828, CVE-2015-3829, CVE-2015-3864
Samsung encourages users to keep their software up to date at all times.
Samsung is officially launching our Mobile Security Blog site to keep users informed of developing security issues.
As part of that commitment, we are providing information on our first Samsung Android Security Update in October.
Earlier on August 5, 2015, Samsung announced “an Android Security Update Process to Ensure Timely Protection from Security Vulnerabilities.”
This blog site will serve as the main source for Samsung Mobile security notifications.