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Samsung counters Apple Pay by acquiring LoopPay

Samsung has recently acquired LoopPay, a US mobile payments firm. The acquisition is seen as a counter to the Apple mobile payment system, Apple Pay. LoopPay uses Magnetic Secure Transmission (MST) technology which helps transferring credit card information in conjunction with a mobile app. The card information can be sent wirelessly when the device is held within a few centimeters ...

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