Korean giant Samsung announced the purchase of start-up LoopPay, which develops and supports its own mobile payment system. Information about the cost of buying yet.

Korean giant Samsung announced the purchase of start-up LoopPay, which develops and supports its own mobile payment system. Information about the cost of buying yet.

 

 

Based LoopPay was in 2012 in Boston, and it can be called a direct competitor to Apple Pay. Technology Magnetic Secure Transmission developed by the company, works with about 90% of payment terminals.

 

Now the founders LoopPay will work with Samsung Mobile. The company cooperated and to purchase, so it is possible that LoopPay will receive a new name and will appear in Galaxy S6 and Galaxy Note 5.

 

However, while the system LoopPay will continue to work offline as an independent subsidiary of the Korean Corporation.