Samsung is in discussions with various companies to integrate a contactless payment system into its smartphones, like Apple Pay on iPhones .
This emerges from a report by Re/code, with Samsung already preparing the service, as it is expected in the first half of 2015. Loop Pay is the company that is in advanced discussions with Samsung.
This is a Boston-based company that has already introduced some contactless payment solutions for Android and iOS smartphones .
Loop Pay 's technology allows all the information on the magnetic strip of a credit card to be read and stored through a special security application on the smartphone.
Because the technology LoopPay uses mimics that of credit cards, it will be available in more stores than Apple Pay.
Apple Pay is in 220 thousand stores in the USA, while similarly LoopPay is in over 10 million.
Therefore, Samsung's payment service will be more mass, as it will be a combination of the capabilities offered by NFC and the magnetic strip of a credit card.
Source: gr.pcmag.com
