Published On: Mon, Dec 29th, 2014

Samsung (LoopPay) to Compete with Google Wallet and Apple Pay

Samsung doesn’t like to stay behind in competition. The history of this company shows that they have closely followed Apple for long and still they prefer to keep an eye on the fruit company. Many sources close to the industry are saying that Samsung is planning to bring their own service very similar to Apple Pay. It is also expected that the service of this payment system would be such that you may not feel the need of Google Wallet also.

Img Credits: LoopPay

Img Credits: LoopPay

Smartphone industry may change a lot in 2015. Experts are looking forward to some new services that may change the way we use the gadget these days. Some leaked reports are claiming that Samsung is talking to a payment startup LoopPay. If this deal goes through then Samsung would be able to utilize the retailer’s current credit card machines to offer their services.

The utilization of current credit card machines will give Samsung an automatic edge over Apple. This service by Samsung will appear more user-friendly and customers need not have to check every time the compatibility of the machine. The current technology of LoopPay allows the user to share the payment information through store’s checkout equipment securely using the magnetic stripe present on the card.

Currently neither LoopPay nor Samsung are saying anything about it. However if they finalize the deal then it can be useful for many smartphone users. Some rumors are suggesting that a prototype of the system of LoopPay has already been installed and Samsung is testing the payment system through this setup. It is not clear how successful it is so far but most probably Samsung is looking to finalize the deal. Therefore in 2015 we may see a new service by Samsung which is going to be effective for many users.

About the Author

- This post has been written by 'Techno Freak - Team' under the guidance of Mr. Sunny Bajaj. Sunny has been in the Web Development Industry from 2002 and knows what it takes when it comes to building Websites. He is known in the industry for always helping out others and establishing strong business relations. Sunny run's a network for more 100+ websites under different niche and advertising platform. This website being his first website, he often takes time from his busy schedule to maintain it and blog regularly. You can read more about him at his About Me page.

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