Samsung ‘paid $250m for LoopPay’

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”.

Next: Visit the NFCW Expo to find new suppliers and solutions