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.
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