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Confused Samsung Looking for an Apple Pay Equivalent

In September we reported that copycat Samsung was racing to integrate PayPal into their next Gear smartwatch so that they could match the Apple Watch's use of Apple Pay. Now a new rumor is claiming that Samsung is discussing a possible deal with a payments startup called LoopPay.


According to re/code, LoopPay's technology would allow people with certain Samsung phones to pay in the vast majority of brick-and-mortar stores by waving their phones instead of swiping with a credit card or cash … just like Apple's Apple Pay.


The report states that It's not yet clear if Samsung has reached a deal with the startup, Burlington, Mass.-based LoopPay. One source said the deal could still fall apart. A prototype of the payments system working on a Samsung phone has been created, the other source said.


But Samsung has been known to work with companies, learn about their processes, like they did with Validity for fingerprint technology, and then drop them like a lead balloon, patent something and then do it on their own.


In the end, this could be a legitimate rumor or it could just be more hot air to buy Samsung time to catch up with Apple's leading technologies and implementations.


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