With an eye on Apple Pay, the mobile payments platform that Apple introduced to much fanfare with the iPhone 6 and iOS 8, Samsung is responding with its own mobile payments play. In a deal announced Wednesday, Samsung acquired mobile payments vendor LoopPay based in Burlington, Mass.
While Apple Pay, obviously, only works with Apple handsets, LoopPay is compatible with both Android and Apple handsets. Both solutions let you make payments with your smartphone but, while Apple Pay only works with Near Field Communication-compatible payment systems, Loop Pay claims compatibility with a wider range of systems allowing it to be used at 90 per cent of credit card accepting retailers.
“With our earliest supporters at our side, we have been at the forefront of contactless payments to create a platform that brings together issuers, merchants and consumers that facilitate a seamless and rewarding digital wallet experience,” said LoopPay CEO Will Graylin, in a statement.
According to a report from Time, it’s not immediately clear if Samsung will integrate LoopPay into its upcoming smartphones, altjoi8gh it would certainly make sense. The new flagship Galaxy A6 is expecting to make its debut in March.
Google Wallet is already a player in the mobile payments and BlackBerry was first to the game with BBM Money.