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    LoopPay

    News stories featuring LoopPay:

    Samsung responds to LoopPay hack

    October 8th, 2015

    Samsung has responded to a New York Times report that claimed a hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of Magnetic Secure Transmission (MST) technology that was… More

    NYT reports on LoopPay breach

    October 7th, 2015

    A hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of the Magnetic Secure Transmission (MST) technology that was acquired in February 2015 to form a core part of Samsung Pay, the New York Times reports. “Both LoopPay and Samsung executives said they were confident that they had removed infected machines, and that customer payment information and personal devices were not affected.”

    Samsung ‘paid $250m for LoopPay’

    May 14th, 2015

    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”.

    MasterCard discusses how Samsung Pay works

    March 1st, 2015

    Samsung Pay, the tokenized mobile payment system introduced with the Samsung Galaxy S6, will first attempt to use NFC and then fall back to magnetic stripe emulation technology to offer widest compatibility with merchant terminals,… More

    Samsung unveils Galaxy S6 with NFC and LoopPay mobile payments

    March 1st, 2015

    Owners of Samsung’s new Galaxy S6 flagship phone will be able to make mobile payments at merchants equipped with both legacy magnetic stripe card terminals and those with contactless POS terminals, Samsung boss JK Shin… More

    Samsung confirms mobile wallet ambitions with LoopPay deal

    February 19th, 2015

    Samsung Electronics has announced it is to buy LoopPay, the startup that has developed a way for mobile payments to be made at standard magnetic stripe card terminals. LoopPay’s technology is expected to form part… More

    Samsung Pay to launch at MWC?

    January 27th, 2015

    Samsung Pay, “a payment feature which works with magnetic and NFC terminals” will ship with the Korean phone maker’s forthcoming Galaxy S6 mobile phone, BGR reports, citing a “trusted source”. The device is expected to be unveiled during Mobile World Congress 2015 while the mobile payment service is expected to use technology developed by US startup LoopPay to enable payments to be made at both contactless and magnetic stripe-based POS terminals.

    The future of mobile payments at CES: Video now available

    January 12th, 2015

    The key to mass market adoption of mobile payments will be the creation of a compelling consumer experience that incorporates both payments and value added services, the Future of Mobile Payments session at the International CES 2015, chaired by NFC World’s Sarah Clark, has found. More

    LoopPay signs up OEMs to embed contactless tech into more products

    January 6th, 2015

    Mobile payments startup LoopPay has announced deals with XPal Power and Trident Case to embed its Magnetic Secure Transmission (MST) mag stripe emulation technology into a broad range of products including smartphones, wearables, cases and… More

    Samsung in talks with LoopPay?

    December 17th, 2014

    Samsung is in talks with mobile payments startup LoopPay with a view to launching a mobile payments system to rival Apple Pay in the US in 2015, “multiple sources” have told Re/code. The service could “allow payment information to be transmitted to the merchant via NFC technology in addition to via LoopPay’s magnetic stripe-mimicking technology.”

    NFC World’s Sarah Clark to chair mobile payments session at CES 2015

    December 15th, 2014

    The editor of NFC World+ will be at the International CES in Las Vegas from 4-9 January to chair the future of mobile payments conference session and meet up with readers to discuss the latest… More

    Visa invests in LoopPay

    July 25th, 2014

    Visa has invested an undisclosed sum in Magnetic Secure Transmission (MST) inventor LoopPay. “The investment is part of a larger strategic funding round for LoopPay, announced earlier this month, which includes Synchrony Financial (formerly GE Capital Retail Finance) and other strategic partners not yet named,” the mobile payments startup says.

    Synchrony invests in LoopPay

    July 10th, 2014

    Synchrony Financial, formerly GE Capital Retail Finance, has made “a strategic investment” in LoopPay, developer of a mobile phone add-on that lets US consumers make payments at merchants equipped with magnetic stripe card terminals. The amount of the investment has not been disclosed.

    Federal Reserve reports on barriers to NFC adoption in the US

    November 27th, 2013

    The Federal Reserve Bank of Boston has published a summary of a June meeting of its Mobile Payments Industry Workgroup (MPIW) that sets out a number of reasons why NFC has not yet taken off in… More

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