By MacRumors Staff

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Samsung Acquires Apple Pay Rival LoopPay

Wednesday February 18, 2015 12:01 pm PST by
Samsung today announced plans to purchase LoopPay, in an effort to compete with Apple's Apple Pay payments service. The two companies were in previously talks over a potential partnership in December for a payment system that would rival Apple Pay. LoopPay's technology stores payment information from a credit or debit card's magnetic stripe, transmitting payment details to card readers in lieu ...