The South Korean manufacturer has quietly been perusing a deal with LoopPay that would allow Samsung smartphone users to use a mobile device at retail stores to purchase products without swiping a debit or credit card, according to a report in Re/code.
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The report cites sources close to the matter, but added that the deal might crumble. Samsung has not yet responded to Mashable‘s request for comment.
Like the Apple Pay platform, which Apple introduced in September, a partnership with LoopPay could allow Samsung users to pay for items by waving a mobile device in front of a brick-and-mortar store’s checkout system. The Samsung smartphone would be equipped with LoopPay’s technology that wirelessly sends stored credit card information to the payment terminal.
Apple Pay, which uses near-field communications (NFC) technology to work, is believed to be the start of a huge revolution coming to mobile payments. Since its October arrival (available only to iPhone 6 users for now), the platform has garnered solid reviews and has been dubbed by experts as one of the most secure payment platforms around.
At launch, Apple Pay was only usable at 220,000 retail locations in the U.S., but the companyannounced on Tuesday that dozens more banks and retailers have signed up to use the mobile platform.
Samsung throwing its hat into the mobile payment ring makes sense. Regardless of whether the LoopPay deal becomes official, the manufacturer will likely want to compete with Apple in this arena and not let it get too much of a head start.