Samsung paid about US$250m to acquire LoopPay, developer of the magnetic secure transmission (MST) technology that will form a key part of Samsung Pay when it launches later this year, according to Recode. The figure could rise based on executive or company performance but “the terms of the earnouts are not known”.
- BBVA bank staff to test face recognition for self-serve restaurant orders and payments
- Carriers in Singapore, India, Thailand and the Philippines to link their mobile wallet services
- Huawei to launch mobile payments in 100 countries this year
- Church of England rolls out contactless donations to 16,000 churches, cathedrals and religious sites
- Auchan lets Italian supermarket shoppers scan and pay on their mobile phone