Samsung Eyeing LoopPay as Partner for Mobile Payment System to Rival Apple Pay
Samsung may be developing a mobile payment system to rival Apple Pay, reports Re/code. The Korean handset manufacturer reportedly is negotiating with payments startup LoopPay about the system, which it plans to debut it in 2015.
The combined Samsung and LoopPay system would allow customers to wave their Samsung phones at payment terminals instead of swiping credit cards or paying with cash or check. Samsung could leverage NFC in its phones and use that standard to wirelessly process payments.
A partnership with LoopPay could expand the service to a variety of new and old payment terminals. The LoopPay technology mimics a card swipe by recording payment information from a card's magnetic strip and transmitting those details to a retail card reader. Since LoopPay does not require NFC or any other wireless standard, the LoopPay system can be used at most payment terminals capable of swiping credit cards.
Similar to Apple Pay, the Samsung system also may adopt tokenization to secure the transaction and may include fingerprint recognition technology, which Samsung has included on its latest Galaxy S5 smartphone.
Apple Pay rolled out in October of this year and interest in the service has remained strong. A recent expansion added banks such as TD Bank and retailers such as Staples. With this latest boost in adoption, Apple Pay now supports cards representing about 90 percent of U.S. credit card purchases by volume.
Popular Stories
Apple plans to release an iPhone 17e and an iPad Air with an M4 chip "in the coming weeks," according to the latest word from Bloomberg's Mark Gurman.
"Apple retail employees say that inventory of the iPhone 16e has basically dried out and the iPad Air is seeing shortages as well," said Gurman. "I've been expecting new versions of both (iPhone 17e and M4 iPad Air) in the coming weeks."...
Apple plans to launch a rebranded "Sales Coach" app on the iPhone and iPad later this month, according to a source familiar with the matter.
"Sales Coach" will arrive as an update to Apple's existing "SEED" app, and it will continue to provide sales tips and training resources to Apple Store and Apple Authorized Reseller employees around the world. For example, there are articles and videos...
While the iPhone 18 Pro and iPhone 18 Pro Max are still seven months away, an analyst has revealed five new features the devices will allegedly have.
Rumored color options for the iPhone 18 Pro models
In a research note with investment firm GF Securities on Thursday, analyst Jeff Pu outlined the following upgrades for the iPhone 18 Pro models:
Smaller Dynamic Island: It has been rumored...
Apple has a long list of new products rumored for 2026, including a series of home products that will see the company establishing more of a presence in the smart home space. Robots are on the horizon for 2027, but the 2026 releases will be a little tamer.
HomePod mini
We're expecting a new HomePod mini 2 to launch at any time. Apple isn't going to update the device's design, but we could...
Apple is planning to launch new MacBook Pro models as soon as early March, but if you can, this is one generation you should skip because there's something much better in the works.
We're waiting on 14-inch and 16-inch MacBook Pro models with M5 Pro and M5 Max chips, with few changes other than the processor upgrade. There won't be any tweaks to the design or the display, but later this...
