Seven & I Holdings Co. said Thursday that it will scrap its hacked smartphone payment service, just one month after its debut, as it struggles to resolve security issues.
The Tokyo-based retail giant and operator of 7-Eleven convenience stores said it will end the service on Sept. 30, because it will likely take some time to construct a more robust system able to resume all the features from 7pay and that customers' trust in the service has been shaken.
"We deeply apologize to customers who have trusted us and are using our barcode payment service as well as to all people involved with this service," said Katsuhiro Goto, vice president at Seven & I Holdings, during a news conference in Tokyo.