Samsung to take on Apple Pay and Google Wallet with LoopPay

Samsung’s latest acquisition might bring them a step closer to taking on both Google’s and Apple’s payment services. LoopPay is joining Samsung’s mobile branch and it seems to be a good buy for Samsung. They no longer need to build their own service. They just have to make use of LoopPay’s already wide reach.

LoopPay is a convenient solution because it doesn’t need any hardware upgrades for contactless payments. Existing point-of-sale terminals can be turned into mobile payment hubs for LoopPay. Details of the acquisition haven’t been revealed. It also hasn’t been said if Samsung plans to pull out LoopPay’s existing apps on Apple App Store or Google Play Store.

Source: Samsung | Via: Android Community