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Samsung Jumps Into Smartphone Pay arena with LoopPay Acquisition



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Samsung

Samsung entered negotiations with LoopPay in January to work on a combined effort, but it appears that Samsung simply decided to buy them out, Although it isn’t clear how Samsung will utilize the technology from LoopPay, we will probably see in the near future. There might be sharp competition if Google and Samsung manage to get their pay programs up around the same time, however,

Apple Pay is only for Apple devices, which essentially gives the company universal adoption amongst its iPhone customers, with no competition. Samsung and Google won’t have this advantage when their pay programs start rolling out, and this could result in the Android market being heavily divided.Samsung likely has an advantage over Google, as it doesn’t require retailers to do anything for LoopPay to work. With Apple Pay’s popularity growing quickly, though, competing companies will need to start making their moves soon.

 



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