The start-up LoopPay uses technology that can operate with 90% of payment terminals in the United States. What largely compete with Apple Pay.
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No way for Samsung to be outdone by its competitor always, Apple. The Korean group will strengthen in mobile payments by buying US startup LoopPay, a competitor of Apple Pay .
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"The technology used by LoopPay can potentially work with about 90% of terminals (payment) available in stores" in the United States, "without necessary investment in new equipment on the part of traders," recalled the 18 February 2015 Samsung and LoopPay in their joint statement.
LoopPay suddenly claims to be accepted by more merchants than any other mobile payment system, highlighting in particular on its website Apple Pay operates in less than 5% of US businesses. Apple Pay indeed work with NFC technology still little used in the United States.
A huge market
With this acquisition, the amount was not disclosed, Samsung "shows that it is serious build and launch a competitive mobile payments system in the US," said Bryan Yeager, an analyst with research firm eMarketer .
"It also gives exclusive access to Samsung LoopPay technology that enables mobile payments at merchants who have not put their date equipment to accept contactless payment methods such as NFC, and there a lot, "added the analyst.
eMarketer estimates that 3.5 billion in mobile payments, made with a smartphone instead of a credit card or cash, were performed in the US last year, and could reach 27.5 billion in 2016 and $ 118 billion in 2018.
See This : Lenovo is expected to unveil Vibe Shot with a 16 megapixel camera
No way for Samsung to be outdone by its competitor always, Apple. The Korean group will strengthen in mobile payments by buying US startup LoopPay, a competitor of Apple Pay .
"The technology used by LoopPay can potentially work with about 90% of terminals (payment) available in stores" in the United States, "without necessary investment in new equipment on the part of traders," recalled the 18 February 2015 Samsung and LoopPay in their joint statement.
LoopPay suddenly claims to be accepted by more merchants than any other mobile payment system, highlighting in particular on its website Apple Pay operates in less than 5% of US businesses. Apple Pay indeed work with NFC technology still little used in the United States.
A huge market
With this acquisition, the amount was not disclosed, Samsung "shows that it is serious build and launch a competitive mobile payments system in the US," said Bryan Yeager, an analyst with research firm eMarketer .
"It also gives exclusive access to Samsung LoopPay technology that enables mobile payments at merchants who have not put their date equipment to accept contactless payment methods such as NFC, and there a lot, "added the analyst.
eMarketer estimates that 3.5 billion in mobile payments, made with a smartphone instead of a credit card or cash, were performed in the US last year, and could reach 27.5 billion in 2016 and $ 118 billion in 2018.