Samsung to take on Apple Pay and Google Wallet?

23 December 2014

Samsung-Galaxy-Note-3-Back Samsung might launch its own Apple Pay competitor and this one plans to work with credit card swipers.

Samsung has begun putting fingerprint readers in its phones, and it seems that this is a step on the road to launching a contactless payment type affair.

The Korean company is in talks with a payments startup called LoopPay, to create such a thing that will one up on Apple by being able to be used with credit card swipers - something Apple Pay is unable to do.

LoopPay's existing technology lets users tap a key fob, an electronic card or a smartphone "ChargeCase" on credit card machines instead of swiping a credit card.

So with that technology inside the phones, Samsung's effort will be far more adaptable in shops than Apple and Google's forays.

Expect it to happen in 2015 (which is literally ten days away, so stop rioting). Thing is, are people really taking up the idea of paying things with your phone? Seems like most people are happy with the cash/card system we've already got.

TOPICS:   Mobile   Banking

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