Samsung today announced plans to purchase LoopPay, in an effort to compete with Apple's Apple Pay payments service. The two companies were in previously talks over a potential partnership in December for a payment system that would rival Apple Pay.
LoopPay's technology stores payment information from a credit or debit card's magnetic stripe, transmitting payment details to card readers in lieu of a physical card. Because it works over a magnetic field, LoopPay is compatible with 90 percent of existing card readers and does not require merchants to support NFC as Apple Pay does.
Currently, LoopPay works through an app and a standalone hardware device (a case is one of the company's most popular LoopPay offerings), but Samsung may build the technology directly into phones in the future. With LoopPay's technology, upcoming Samsung devices may be able to replace credit cards much in the same way Apple Pay does, with Samsung customers able to wave their phones at payment terminals instead of swiping a card.
According to Samsung, LoopPay will provide the company's customers with a "seamless, safe, and reliable" mobile wallet solution. LoopPay already markets itself as an alternative to Apple Pay, and it's likely Samsung will build upon the technology to create a payment service that even more closely mirrors Apple's offering.
"This acquisition accelerates our vision to drive and lead innovation in the world of mobile commerce. Our goal has always been to build the smartest, most secure, user-friendly mobile wallet experience, and we are delighted to welcome LoopPay to take us closer to this goal," said JK Shin, President and Head of IT and Mobile Division at Samsung Electronics.
The current version of LoopPay doesn't have the same security features that Apple Pay offers, like tokenization, but it does have some benefits, including the ability to store IDs, loyalty, and membership cards along with payment cards.
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
Thursday April 17, 2025 4:12 am PDT by Tim Hardwick
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we often get rumored features months ahead of launch. The iPhone 17 series is no different, and we already have a good idea of what to expect from Apple's 2025 smartphone lineup.
If you skipped the iPhone...
Tuesday April 15, 2025 6:31 am PDT by Tim Hardwick
Apple is preparing a "bold" new iPhone Pro model for the iPhone's 20th anniversary in 2027, according to Bloomberg's Mark Gurman. As part of what's being described as a "major shake-up," Apple is said to be developing a design that makes more extensive use of glass – and this could point directly to the display itself.
Here's the case for Apple releasing a truly all-screen iPhone with no...
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices.
Subscribe to the MacRumors YouTube channel for more videos.
Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025:
Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and ...
Wednesday April 16, 2025 11:28 am PDT by Joe Rossignol
If you have been experiencing issues with wireless CarPlay in your vehicle lately, it was likely due to a software bug that has now been fixed.
Apple released iOS 18.4.1 today, and the update's release notes say it "addresses a rare issue that prevents wireless CarPlay connection in certain vehicles."
If wireless CarPlay was acting up for you, updating your iPhone to iOS 18.4.1 should...
This week saw rumor updates on the iPhone 17 Pro and next-generation Vision Pro, while a minor iOS 18.4.1 update delivered not just security fixes but also a fix for some CarPlay issues.
We also looked ahead at what else is in Apple's pipeline for the rest of 2025 and even the 20th-anniversary iPhone coming in 2027, so read on below for all the details on these stories and more!
iPhone 17 ...
The first iOS 19 beta is less than two months away, and there are already a handful of new features that are expected with the update.
Apple should release the first iOS 19 beta to developers immediately following the WWDC 2025 keynote, which is scheduled for Monday, June 9. Following beta testing, the update should be released to the general public in September.
Below, we recap the key...
Since it uses magnetism doesn't this mean it won't work with chip and pin cards? So, Samsung is so scared of Apple that they bought tech that'll be outdated in a couple years?
