Samsung Buys LoopPay – Apple Pay’s Competitor

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A Boston based technology firm who created LoopPay, is singing joyful noice this morning as Samsung has pucharcased their LoopPay technology.

Samsung acquired the firm for an unspecified amount of money

Last year, LoopPay created a fob-like paying method that worked with the current card readers in most locations. The next generation of LoopPay is expected to launch soon with a more Apple-esque technology that will enable people to use their next Samsung Galaxy smartphone.

The great thing about LoopPay that despite its expected new model release, is that it will still work with over 90% of card readers already in place. No new installations for store owners. That’s a relief.

The creators of LoopPay will still stay very involved in new development. They’ve been working with Samsung and cooperating for some time now as they develop new ideas.

The president and head of IT at Samsung, JK Shin said:

“Our goal has always been to build the smartest, most secure, user-friendly mobile wallet experience, and we are delighted to welcome LoopPay to take us closer to this goal.”

Obviously since Samsung made the purchase of LoopPay, they’re vey serious about building a competitive mobile payment system that will rival Apple.

These days you’re either Pro-Apple or Pro-Android, Both have solid features in their products that even make me (a long time Apple user) jealous of some of Samsung’s technology. I for one am very excited to see what LoopPay has to offer.

Seems kind of silly, I’ll admit. Getting excited over ways to spend my hard earned money more quickly. …. And securely, of course.

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