Slashdot Mirror

← Back to Stories (view on slashdot.org)

Samsung Takes On Apple Pay By Acquiring Mobile Wallet Startup LoopPay

Posted by samzenpus on from the circle-of-business dept.

An anonymous reader writes Samsung is buying major Apple Pay and Google Wallet competitor LoopPay. "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," JK Shin, Samsung co-CEO and head of the company's mobile business, said in a press release. "What's a real differentiator is this uses technology that's in stores today," David Eun, executive vice president of Samsung's global innovation center, said in an interview. "We don't have to wait for a point in the future where there are a lot more [NFC-enabled] terminals."

1 of 62 comments (clear)

  1. Re:Strongly Worded... by iluvcapra · · Score: 4, Interesting

    LoopPay works by basically cloning the credit card.

    Is that even permitted under PCI DSS? I know other projects, like Coin, get hung up on this, for good reason.

    --
    Don't blame me, I voted for Baltar.