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Samsung Squares Up To Apple With LoopPay Acquisition

  • The Drum, Thursday, February 19, 2015 8:38 AM

Samsung is to acquire mobile wallet provider LoopPay whose technology turns existing magnetic strip readers into secure and contactless receivers, for an undisclosed sum. As part of the acquisition, LoopPay founders Will Graylin and George Wallner will work closely with Samsung’s Mobile Division. The two companies already had an existing relationship, with Samsung first identifying the potential for LoopPay’s technology when it became a strategic investor.

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