Samsung buys LoopPay. A tactical acquisition?

Yesterday, Samsung announced that it acquired LoopPay, a mobile payments technology company, in a move that was widely reported as allowing Samsung to “build a viable Apple Pay competitor”. Samsung takes aim at Apple Pay with LoopPay acquisition The key differentiating feature of LoopPay is that unlike Apple Pay it does not use Near Field Communication (NFC) technology to speak to the point of sale terminal, but instead relies on its own proprietary technology that emits a magnetic field to simulate … Read more…