Samsung announced the acquisition of LoopPay back in February and today Re/Code reports Samsung may have paid $250 million. The acquisition to counter Apple Pay cost the Korean giant a quarter of a billion plus earnouts, which according to the report, could increase based on performance. Samsung introduced Samsung Pay that uses LoopPay’s technology. Unlike […]
LoopPay
Samsung acquires LoopPay
Samsung is transforming its existing relationship with LoopPay into something more substantial as they’ve confirmed to buy the US-based company. The amount of money exchanged is unknown but it reiterates Samsung’s intentions to bring mobile payment to its future lineup of smartphones. In fact, Samsung’s Galaxy S6 is rumoured to be the first smartphone to […]
Samsung planning to launch Apple Pay like service
Samsung is in talks with various payment companies to include wireless mobile payments system in their smartphones, much like the Apple Pay. Wireless mobile payment requires just waving or tapping of the phone instead of swiping the credit card to the payment system. As per a report by Re/code, Samsung is in talks with LoopPay, […]