Bloomberg – 2/18/15: Samsung Electronics Co. is acquiring LoopPay Inc., a company that develops technology for turning credit-card readers into wireless payment terminals, as it stakes out a position in the growing mobile-wallet industry. LoopPay has technology that turns 90 percent of credit-card payment machines into devices that can accept mobile payments, Samsung said in a statement on Wednesday. While Samsung’s top-of-the-line smartphones have the wireless technology necessary for mobile payments, LoopPay makes it easier for retailers to accept payments via smartphones. Samsung didn’t disclose terms of the deal.
Click here to read more: http://www.bloomberg.com/news/articles/2015-02-18/samsung-acquires-looppay-to-compete-in-mobile-payments-industry

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