ST Alpha - "I feel the LoopPay technology Samsung bought is very clever but it's already obsolete." (Reading a Post)

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I feel the LoopPay technology Samsung bought is very clever but it's already obsolete.

Posted by Mop (aka Rburriel) Sep 20 '15, 20:48

It works by generating an electromagnetic signal which mimics the magnetic strip on your credit card. Before today, I'd only ever seen people using the chip on their credit card in Canada. Today I had to do it twice, at Walmart an Target. LoopPay doesn't do chip. It does magnetic strip.

Responses:

I hadn't realized that Samsung was going to be pushing "Samsung Pay" during the Emmys. This was a coincidence. -- nm - Mop Sep 20, 21:54
everywhere I've been except the US is chip (seriously, even the parts of Ethiopia that had the credit card option). - mafic Sep 20, 20:53 1
- I feel LoopPay was just a stop-gap for legacy strip credit cards. As we move on, mobile users will just use NFC. -- nm - Mop Sep 20, 20:55

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I feel the LoopPay technology Samsung bought is very clever but it's already obsolete.

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