Tag: apple

Samsung acquires mobile payments firm LoopPay

| February 23, 2015

Samsung has confirmed that it will be acquiring LoopPay

Samsung has announced that it will, indeed, be acquiring mobile payments technology firm LoopPay. Rumors concerning this acquisition have been circulating for some time, bolsters by Samsung’s growing interest in mobile payments. The acquisition is expected to help Samsung better compete in the mobile commerce space, which has become filled with companies that are seeking to gain the favor of mobile consumers throughout the world. The acquisition may also hint at Samsung’s future efforts in the mobile commerce space.

Firm develops technology that can turn conventional point-of-sale systems into mobile payments terminals

LoopPay develops technology that is capable of giving 90% of conventional point-of-sale systems the ability to accept mobile payments. This technology has become quite valuable, as more retailers are looking to accept mobile transactions in their physical stores. Many of Samsung’s most recent devices are able to conduct mobile transactions, but relatively few retailers support these payments physically. That is changing as mobile commerce continues to prove that it is a powerful force, pressuring more retailers to embrace mobile point-of-sale systems.

Samsung may be developing its own mobile payments system in order to compete with other companies

Mobile Payments - Samsung acquires LoopPaySamsung is rumored to be developing its own mobile payments platform, called Samsung Pay. This platform is likely to be based off technology developed by LoopPay. This technology would be used by retail partners in order to accept mobile payments through the new service. Samsung has not yet revealed details concerning this potential platform or whether or not it will be working with retailers to launch a new mobile payments service.

Competition may be difficult, as other companies have a well established place in the mobile commerce field

Samsung has been relatively slow to enter into the mobile commerce field on its own. The company is currently set to compete with others, such as Apple and Google, in order to gain the favor of mobile consumers. Competition is likely to be fierce, as both Apple and Google already have a well established presence in the mobile payments space.

Mobile payments service Apple Pay receives support from the US government

| February 18, 2015

Federal government shows strong support for Apple Pay

Apple Pay has gotten a major boost from the U.S. federal government. Apple has announced that its new mobile payments platform has received approval to accept payments for the federal government. The platform will begin accepting these payments in fall. The platform will be able to accept payments for those visiting federal locations, such as national parks, and will also be used for payment cards issued by the federal government.

Apple Pay’s latest victory may provide the service with the momentum it needs to break into new markets

The support from the federal government is a major victory for Apple Pay, which has come to establish a dominating presence in the mobile payments field. The platform is nearly four months old, having launched late last year, and has already managed to capture a significant portion of the mobile payments market. With the backing of the federal government, the platform is expected to continue gaining momentum, which will be needed to break into the payment markets of other countries.

Mobile payments continue to thrive in the United States

Mobile Payments - AppleMobile payments has become quite popular among consumers in the United States. Many see paying with Apple Pay, and similar services, as a more convenient form of commerce. This is because many of these people already use their smartphones and other devices for many things in their daily lives. Mobile payment services have managed to gain strong support from consumers because of their convenient nature.

Biometric technology helps keep Apple Pay secure

Apple Pay is not only convenient for consumers, of course, as it is also quite secure. The service makes use of biometric technology, which uses biological information, such as a finger print, to protect the financial information of its users. Such technology is becoming more important in the mobile payments field, as the market has become a prime target for malicious groups that would exploit the financial information of consumers. The security measures that Apple has incorporated into its payment platform has received praise from the U.S. government.