Samsung Has Acquired Apple Pay Competitor LoopPay

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Posted 2 years ago


Samsung May Acquire Apple Pay Competitor LoopPaySamsung has acquired LoopPay, a competitor of Apple Pay.

LoopPay made the announcement of the acquisition on their website, writing:

“Today is a great day for LoopPay and all those who have supported us over the last few years. I’m excited to let you know that LoopPay has signed an agreement to be acquired and become a wholly owned subsidiary of Samsung Electronics America, Inc.”

They added “We will continue to innovate and operate as an independent team from Boston, Massachusetts.”

“Our vision of inspiring consumers to transition from a physical wallet to a truly digital wallet will continue. I’m most excited that Samsung shares this vision and has chosen to help change how we shop and pay for goods and services. We look forward to working with Samsung to offer the world’s most secure and compelling mobile platform.”

JK Shin, President and Head of IT and Mobile Division at Samsung said ““This acquisition accelerates our vision to drive and lead innovation in the world of mobile commerce. Our goal has always been to build the smartest, most secure, user-friendly mobile wallet experience, and we are delighted to welcome LoopPay to take us closer to this goal.”


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