Samsung acquires the mobile wallet provider LoopPay

18 February, 2015

Samsung has agreed to acquire the provider of mobile wallet solutions LoopPay. Financial terms of the transaction have not been disclosed.

Founded in Boston back in 2012, LoopPay is a mobile payments provider, whose product is a direct competitor to Apple Pay. The company’s Magnetic Secure Transmission tech can work on roughly 90% of all existing point-of-sale terminals.

As part of the agreement, the founders of LoopPay will work with Samsung Mobile. The two companies have been collaborating well before the acquisition, so it is more than likely to see LoopPay mobile wallet tech in the upcoming Samsung Galaxy S6.

LoopPay will continue operating as an independent subsidiary of Samsung going forward.

Source 1 | Source 2

Samsung

Reader comments

Linas
23 Feb 2015
QPU

the only joke there is... is iJoke, which costs iNightmare. Note 4 is the best device on the market, and no #iBendgate can come close... just live with that.

Dot-WiFi
22 Feb 2015
bJb

lol... most original .. most innovated ... love that joke

AnonD-7433
19 Feb 2015
XMF

What's wrong with all you isheep??! Right now, the Galaxy Note 4 is the most original, the most innovative, the most feature-packed, multitasking beast, undisputed king of all smartphones and with the most added value amongst the branded ones, where ...