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You are here: MacNN Forums > Community > MacNN Lounge > Samsung buys Looppay to compete with "Apple Pay"

Samsung buys Looppay to compete with "Apple Pay"
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starman
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Feb 18, 2015, 04:44 PM
 
Before I link the article, think about the title for a second.

Samsung always wants to get in Apple's face, even at the expense of something they already have access to.

So, here's the article:

Samsung Acquires LoopPay, Maker Of An Apple Pay Competitor | TechCrunch

...but this quote:

"LoopPay even advertises its solution as an alternative to Apple Pay for non-Apple device makers".

Android has had a non-Apple payment system already. For years. It's called NFC Pay. Apple just branded it, but it's the same thing.

So, what the hell is an "alternative to Apple Pay for non-Apple devices"?

What does that even mean? Generic NFC Pay in Android (like Google Wallet) already exists.

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boy8cookie
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Feb 18, 2015, 06:59 PM
 
Why is Apple Pay in quotes? Why isn't "looppay" ??

Anyway, here's your answer: Samsung Wants To Replace Your Credit Cards With These Clever Magnets
     
starman  (op)
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Feb 18, 2015, 10:42 PM
 
I think I was quite clear in that.

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Spheric Harlot
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Feb 19, 2015, 02:01 PM
 
What's interesting at least from a Euro perspective is that here in Germany, virtually all card terminals will insist on reading the (more reliable and secure) chip FIRST. So the magnetic strip reader is not even activated until a card is inserted and unreadable.

Second, if authentication doesn't run via PIN (and it often doesn't), a signature is required, which MUST be compared to the signature on the back of…the card.

LoopPay doesn't seem…ideal.
     
starman  (op)
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Feb 19, 2015, 04:45 PM
 
LoopPay will also be obsolete in Oct.

That's when, in the U.S., cards with chips that are used on terminals with chip readers, will NOT work when used with the mag reader.

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Spheric Harlot
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Feb 19, 2015, 06:15 PM
 
Sounds like a Perfect Time to Sell the Company.
     
mindwaves
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Feb 19, 2015, 11:21 PM
 
I saw a review of LoopPay, and I wouldn't want to carry along something extra with me. My pockets are already full. The LoopPay case is interesting, but not stylish/suited for me and is rather thick.

Apple Pay works well for me. I use it often at the local grocers and also to get my $1 soda at McDonald's.
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osiris
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Feb 20, 2015, 08:37 AM
 
Sure, everyone blame looppay.


but seriously, Samsung just wants to play in the game too, regardless of the outcome. They should just stick to screen manufacturing.
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OreoCookie
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Feb 20, 2015, 11:53 AM
 
So how long until Samsung announces their Galaxy car?
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The Final Dakar
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Feb 20, 2015, 12:02 PM
 
Originally Posted by OreoCookie View Post
So how long until Samsung announces their Galaxy car?
I have a feeling there's a little too much truth in that joke.
     
osiris
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Feb 20, 2015, 12:14 PM
 
Originally Posted by OreoCookie View Post
So how long until Samsung announces their Galaxy car?
They can't - Ford owns that car name. lol
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OreoCookie
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Feb 20, 2015, 12:17 PM
 
Originally Posted by osiris View Post
They can't - Ford owns that car name. lol
I know. Do you think that'll stop them, though?
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Feb 20, 2015, 12:47 PM
 
I loved my old Galaxie 500 outfitted with a 428 Interceptor, it was an awesome boulevard pimpmobile.
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