Korean electronics giant Samsung Electronics Co., Ltd. is now launching its own mobile payment service, hoping to compete with rival Apple’s payment function. Sources said: "The Korean tech giant is working with the mobile payment start-up company LoopPay from Boston to allow people to use mobile payments." Samsung Electronics and partners including Barclaycard allowed use of NFC payments in certain networks, but if it In cooperation with LoopPay, its services will be more widely expanded. LoopPay's application securely stores all of the user's payment information.
Apple Pay was launched earlier this year, allowing people to pay for goods with the iPhone 6 and 6 Plus. It pays through the mobile phone reader and fingerprints on the fingerprint recognition button. This confirms the identity of the user and makes the payment. All payment details in the store are encrypted. If the iPhone is lost, the user can suspend all payment services. Apple Payments currently has approximately 220,000 stores and 10 banks in the United States. In contrast, LoopPay has more than 90% of stores in the United States.
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