Samsung just bought the mobile payment start-up, Loop Pay. However, there is still silence about the price. Now Samsung has its own “mobile wallet” and is in competition with Apple Pay.

Samsung will continue Loop Pay  as an independent affiliated company of Samsung Electronics America.

Important facts:

• LoopPay will work at 90% of retailers that accept credit card

• can be used without NFC-technology

• wireless transfer of payment details

• no adjustment in shops are necessary because loop pay simulates the magnetic stripe of credit card

• usable also with credit / debit cards

We are excited about the new technology!