“Samsung has made its move to counter Apple Pay by acquiring Boston-based mobile payment tech firm LoopPay,” Mike Snider reports for USA Today.
“The electronics giant acquired the mobile start-up for an undisclosed sum. LoopPay launched a fob-based payments solution that works with the existing magnetic stripe readers last year,” Snider reports. “However, LoopPay had been expected to have its next generation of digital wallet tech on board with the next Samsung Galaxy smartphone.”
Snider reports, “‘This acquisition accelerates our vision to drive and lead innovation in the world of mobile commerce,’ said JK Shin, the president and head of IT and mobile for Samsung Electronics. ‘Our goal has always been to build the smartest, most secure, user-friendly mobile wallet experience, and we are delighted to welcome LoopPay to take us closer to this goal.'”
Read more in the full article here.
MacDailyNews Take: Oh, you’re leading in something, JK… self-delusion.
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