Samsung Mobile Payment Service To Rival Apple Pay

We have told you all about the launch of Apple Pay and now Samsung are preparing the release of its own Samsung mobile payment service in partnership with LoopPay. Samsung are apparently in discussions with startup company LoopPay and the system will be much the same as arch rivals Apple’s as it will allow customers to pay for goods using their smartphones. The company have already permitted NFC payments on some networks and with big partners like Barclaycard. However if Samsung partnered with LoopPay, then mobile payment service would expand far and wide which would certainly help Samsung at least attempt to compete with Apple’s system.

Samsung LoopPay

Sources have leaked information that Samsung are already in talks with LoopPay and prototypes have already been designed and completed. However there has been no official announcement and there is certainly no time frame on when this service will be with us, or of course if we will ever see it. In other words there is a long way to go before we see Samsungs mobile payment service in action. If this happens the it will see LoopPay’s technology added to future Samsung devices, including smartphones, tablet computers and also smartwatches.

Apple Pay saw the light of day a few months ago and it allows people that have an iPhone 6 and 6 Plus pay for goods by simply tapping the device on NFC readers. It is similar to contactless but instead of using your actual card you just tap your phone to the card reader with a finger held on the TouchID button which confirms that the iPhone being used is not stolen and confirms the owner’s identity. LoopPay is available at over 90% (10 million stores) in America.

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