Category: Apps

LoopPay has acquired funding from Visa for its ambitious and innovative technology

LoopPay, a mobile payments firm based in the U.S., has announced that it has won funding from Visa. The exact amount of funding that has been provided by Visa has not yet been revealed, but the funding is expected to be used to help LoopPay launch its new technology later this year. The firm’s Magnetic Secure Transmission (MST) technology may add yet another layer of security to mobile commerce while further bolstering the mobile payment infrastructure.

LoopPay technology makes use of magnetic trips rather than NFC chips

The technology leverages the magnetic strips that can be found on payment cards in order to process mobile payments. LoopPay has opted not to make use of NFC technology, despite its popularity in the mobile commerce sector. The new technology means that existing point-of-sale systems can be made more mobile-friendly, as most are fashioned to make use of payment card information. Reducing the technological boundaries that separate mobile commerce and traditional commerce could help consumers become more active in the mobile shopping field.

Firm’s services can be used by iOS devices

LoopPay provides a mobile application and case for iOS devices. The case is able to store and reach financial information, allowing iOS users to participate in mobile commerce relatively easily. The MST technology from LoopPay encrypts the financial information being transmitted to a point-of-sale system and this information is only available for a short amount of time before it is no longer readable.

LoopPay may have found a way to get people involved in mobile commerce without forcing them to embrace new and unfamiliar technologies

Mobile commerce has become a competitive field in many parts of the world. In the U.S., many mobile payment firms are introducing services that make use of new technology that is designed to disrupt traditional commerce. This can be difficult for consumers to embrace, however, as they have been comfortable with traditional commerce for years. LoopPay may have found a way to encourage people to participate in mobile commerce without having to embrace new and unfamiliar technology.

The travel site giant has now made a considerable acquisition to build on its smartphone and tablet based offerings.

The online booking platform and travel site, TripAdvisor, has recently made a considerable move in mobile commerce in addition to the acquisition of a top research resource, Viator, which helps in booking activities at a destination.

This service will considerably expand the company’s online and mobile booking capabilities.

By the time that the acquisition was announced, Viator already offered over 20,000 possible tours and attractions that could be booked, for which customers had left over 600,000 reviews, videos and photos from their own experiences. Stephen Kaufer, the TripAdvisor CEO, spoke of the acquisition and the impact that it would have on the company’s online and mobile commerce, saying that “Viator will be a great addition to the TripAdvisor family, as online and mobile bookings for attractions and activities represents a huge opportunity for our business.”

It will give the mobile commerce service’s users the chance to book local attractions and things to do, to enhance their trip planning.

Kaufer went on to explain that travelers don’t just want to be able to book their travel and accommodations, but they also want to make sure that they will be prepared to be able to head to some of the various attractions that are local to the destinations to which they would be traveling. By adding the Viator opportunity to book any of a massive number of attractions around the world and by combining it with the TripAdvisor service for a more seamless experience, he stated that this would “provide immediate benefit to our community, whether in the planning phase or on the trip.”

The acquisition of Viator by TripAdvisor was made for approximately $200 million, according to the initial announcements of the purchase. Despite the fact that the company has been bought out for the expansion of the online and mobile commerce experience by the purchaser, the over 250 employees of Viator will continue to work at the various places in which the company is located. This includes its headquarters in San Francisco, as well as its offices in Las Vegas, Sydney, and London.