Items tagged with looppay

Google may have been one of the first to bring a wireless, mobile payment system to modern smartphones using NFC technology, but it was Apple that made the technology surprisingly easy-to-use and widespread courtesy of Apple Pay and Touch ID. When it comes to contactless payment made using American Express, MasterCard, and Visa accounts, Apple Pay currently captures two out of every three dollars spent. “Apple Pay is off to a very strong start, and the feedback that we're getting from both individuals and institutions is extremely positive,” bragged Apple CEO Tim Cook during his company’s most recent earnings call. “With all of this momentum in the early days, we are more convinced than ever... Read more...
We reported last year that Samsung was in talks to team up with LoopPay, a Burlington, MA-based startup firm that specialized in wireless payment technologies. Unlike Apple Pay or Google Wallet, which require an NFC-equipped cash register to complete a wireless transaction, LoopPay works using “Magnetic Secure Transmission,” which allows a customer to simply tap his or her smartphone near a traditional cash register card reader to complete a wireless transaction. And best of all, businesses don’t need to upgrade their cash registers for customers to take advantage of LoopPay. Those December rumors of a partnership have now turned into a full-fledged acquisition by Samsung. “This acquisition accelerates... Read more...
The Apple Pay mobile payments service was announced alongside new iPhones back in September, and officially launched the following month. Apple Pay kicked off with support for Visa, MasterCard, and American Express credit cards and has partnered with a number of financial institutions including Bank of America, CapitalOne, Chase, Citi, and Wells Fargo. Apple this week announced that it has signed up dozens of new financial institutions including Barclaycard, USAA, SunTrust, and TD Bank North America. All total, Apple Pay will support credit cards from issuing banks that encompass 90 percent of all credit card transactions conducted within the United States. As the number one smartphone OEM in... Read more...