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”.
- HSBC and First Direct join Pay by Bank app
- Apple Pay in-store adoption is “growing nicely”
- Apple details Touch ID and PC-to-phone payment security features
- Samsung reveals S8 with multi-biometrics, Samsung Pay reaches quarter of a billion transactions and adds online payments
- Dunkin’ Donuts customers get mobile ordering through Google’s navigation app