ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Seven-Eleven Japan pay app was easy mark for hackers

7pay opted for convenience over security -- and paid dearly

Hackers who breached Seven-Eleven's mobile payment accounts are suspected of using lists of usernames and passwords leaked from a website or illegally obtained on the internet.   © Reuters

TOKYO -- Seven-Eleven Japan thought using two-factor authentication for its just-released mobile payment feature would be too much of a hassle for users, a gamble that quickly cost the company consumer trust.

In the days after the convenience store chain rolled out 7pay on July 1, hackers made off with over 38 million yen ($350,000) from unsuspecting accounts. Now the parent company Seven & i Holdings will shut down the service in its entirety at the end of September.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more