12:04 04th Feb, 2015
Samsung’s LoopPay-Based Payment Tech On The GALAXY S6 May Be A Winner
Gets rid of the hardware requirements on the retailer’s end.
While we all know that Samsung is going all out with its GALAXY S6 in terms of hardware and software. What we did not know, is that it will actually make use of that redundant fingerprint scanner on current devices.
A new report in a Korean publication states that Samsung is preparing an “Apple Pay killer”. The new payment system, will work with newer and older hardware and is based on the currently available LoopPay payment system.
For those not in the know, LoopPay gets rid of the major payment problem when it comes to using your smartphone, an updated vendor’s side credit card reader.
Yes, there is an iPhone 6 somewhere in there!
LoopPay works with the help of a LoopPay kit that the company provides in the form of a hard case for your smartphone. The case apart from providing protection for your smartphone also hides the patented Magnetic Secure Transmission (MST) tech that works with any credit card machine available.
All you need to do is touch your smartphone (with the case on) to any credit card machine and the payment passes through without the need to swipe a credit card.
Of course considering that Samsung will be including the tech in its smartphone, means that you will not need to tug around that bulky case; and everything will be built in. More so, the fingerprint scanner that is expected to be touch-based, will indeed be required to authenticate the purchase.
What is more interesting is that Samsung is also working with LoopPay to deliver cases for the GALAXY Note 4 and the GALAXY S5 as well, so owners can take advantage of the built-in fingerprint scanners.
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