Source: Gaijin Pot
Fast and convenient, mobile payment apps are taking over the world—Japan included. The mobile wallet market is challenging Japanese society’s love of coins and crisp banknotes. In 2018, 25% of smartphone owners had made at least one purchase using their mobile phone, a trend likely to boom in 2019.
But before Japan kneels before a cashless world, it needs a strong guarantee that citizens’ privacy and security aren’t being sacrificed at the altar of convenience.
Luckily, we have the recent 7Pay app fiasco to give us all a good wake-up call that mobile pay isn’t always the savior we need.
7Pay: 3 days, 900 clients hacked, ¥55 million stolen
Launched on July 1, 7-Eleven’s shiny new mobile-wallet app 7-Pay crashed as fast as you can say irrashaimase.
In brief, hackers (but it could just as well have been your technology-challenged grandmother) were able to steal about ¥55 million in payments due to serious security vulnerabilities. The parent company Seven & i Holdings Co. even managed to anger the Ministry of Economy, Trade, and Industry (and those guys still use fax) for not following sufficient security guidelines. For a recap of this drama, warm-up some popcorn and read all about it here.
Twitter is very amused
Rumors that 7-Pay users were noticing unexpected transactions on their accounts quickly spread on social media.
This is embarrassing but I signed up and put some money [on 7-Pay] just to receive a free onigiri. Stupid, isn’t it? By doing this, I got ¥400,000 stolen [from my account]”
This very expensive freebie was then artfully summarized in this illustration tweeted by user @doppelscheisse.
7pay騒動（そうどう）を要約（ようやく）した画像（がぞう）が面白（おもしろ）くて面白くて… = This really, really entertaining image perfectly sums the 7-Pay fiasco…
We can almost …continue reading