Samsung aqcuires Looppay

Samsung Pay Enters The Market with the acquisition of LoopPay

LoopPay, the company that utilizes MST technology, which enables payment by phone using magnetic credit card readers, has been purchased by Samsung.

Samsung has launched Samsung Pay, Samsung’s mobile payment app, which will be available to Galaxy 6 users.

Despite the fact that the phone (and app) are not yet available, it seems like the mobile giant will give Apple Pay a run for its money, as it is aiming to offer a secure and easy mobile payment process, that can be used even in stores where Apple Pay (and Google Wallet) are not available.

The battle of Apple Pay VS. Google Wallet is about to become more interesting, as Samsung enters the game.

Jason Gardiner

Tech savvy from Chicago that enjoys life!

  • Jason Gardiner

    It is now officially known that Samsung has paid $250 million to acquire Loop Pay.