The giant consumer electronics South Korea did not disclose how much you are paying for LoopPay based in Boston, which was founded in 2013.
LoopPay technology supports approximately 90 percent of terminals retail to allow customers to use their phones to pay with credit cards registered, according to Samsung.
LoopPay has been built smartphone, as well as charms, or dongles, and transmits credit card data via magnetic fields at point of sale terminals in stores for transactions.
Buying the company will allow Samsung to use technology to infuse their smartphones or tablets with mobile wallet capabilities that work with magnetic stripe readers and in most stores.
"Through this agreement can significantly accelerate our efforts mobile commerce," said Samsung global innovation center executive vice president David Eun.
"We are very excited to take our relationship to the next level LoopPay, to bring consumers a mobile wallet solution that is not only safe and reliable, but also widely accepted in more places than any competing service."
Founders Will LoopPay Graylin and George Wallner will join Samsung's mobile division, according to the president JK Shin mobile equipment.
Apple has boasted that banks, shops and other businesses are adopting payment technology from Apple that enables next-generation iPhones can be used as secure digital wallets.
Apple, which uses a different wireless technology on your iPhone payment system, has said that the use of their mobile wallet is growing. But the market has remained fragmented with other players.
Samsung is expected to unveil a new flagship smart phone equipped with software for Google Android at Mobile World Congress to be held in Barcelona the first week of March. AFP
0 Comments