With Apple making a lot of buzz about their own payment system, Apple Pay, Samsung is looking to grab a little of the spotlight too. What a surprise!! Back in December is when we first got wind of this notion that they were negotiating with LoopPay.
Samsung will indeed implement LoopPay technology, and what is most interesting about it is that NFC isn’t required. It actually mimics a card swipe so the potential of massive merchant support is greater. Of course Samsung will offer a fingerprint scanner, but this year’s rendition will require users to simply touch the device rather than swipe their finger.
LoopPay, the popular mobile payment company, is partnering with XPAL Power and Trident Case to make payment on a Samsung device much simpler.
It’s pretty typical Samsung behavior to try and create their own versions of popular technology, whether that’s an App Store, instant messaging service, or virtual reality headset. Sometimes Samsung’s version turns out pretty well, but other times it can be a complete disaster that goes mostly unused by customers.
With Apple entering the mobile payment market with Apple Pay, Samsung is, of course, readying their own form of a wireless payment method using Samsung smartphones. Sure, Samsung already has their own Wallet app, and almost all newer Android phones support tap-to-pay functionality with Google Wallet, but Samsung wants their own, uniquely branded version.
PayPal has announced that they’re opening One Touch mobile payments to developers today, and the payment system will come to every PayPal user in the next few weeks. Even though PayPal only wanted to show off the payments on an iPhone, they’re still coming to Android, rest assured. These mobile payments will work inside of applications to allow users to quickly make purchases by linking their PayPal accounts. Since it’s PayPal, it can remember your bank accounts and credit cards and save you the headache of punching in numbers and information.
One of the biggest features we’re expecting Samsung to adopt in the Galaxy S5 is the fingerprint scanner. Everyone is pretty much expecting it’s going to happen, and we’ve even gotten some insight on what it’s going to be able to do, but the latest rumors point towards the S5 trying to do something that many companies have failed at; a mobile payment system.
Apparently, Samsung and PayPal are working together closely to try and create some type of wallet system that will become a standard for consumers and retail stores. Samsung already has a wallet app developed, although it’s limited by country availability (much like Google Wallet) so Samsung already has some of the foundation ready. Adding in a fingerprint scanner for security and PayPal for the heavy lifting on the money handling side of things could really be what Samsung needs to make something like this happen.
It’s surprising that more Android manufacturers and carriers haven’t jumped on the Google Wallet bandwagon, considering the rate at which the service continues to gain traction in the mobile payment space. While carriers like AT&T may rather opt for an in-house alternative, many anxious subscribers would rather utilize Google’s service. Thankfully, the Galaxy Note II has received an unofficial workaround for installing the mobile wallet software, thanks to recognized XDA developer ogdobber.
QThru, the provider of a mobile point-of-sale platform, announced today new apps for Android and iOS that will enable users to shop and checkout at physical stores using only their smartphone. The app gives you the ability to scan barcodes of items to add them to your shopping cart, then use a function called Q-Code to pay via a kiosk with the total transmitted to the account you have connected with the app. Beyond the in-store experience, the app provides other functions, like the ability to create shopping lists, find deals, create favorite items, research item details, and track total spending. QThru also indicates the app has a custom scale solution to handle purchases of produce or other items by weight.
Read the full press release below and then hit the download links to install the app on your device before heading out to find a participating retail store.
Mobile payment giant Square Inc. has announced today that it is now processing $10 billion in transactions annually, thanks to its widely adopted mobile payment infrastructure. Just a few weeks back the company made it known that it was raking in $8 billion annually, equating to a $2 billion increase in less than a month.
Similar to Google Wallet, users are required to have an application installed, whereas brick-and-mortar retailers must have the company’s physical checkout system to conduct transactions. Interestingly, it’s being reported that this figure doesn’t include payments processed by Starbucks, whom the company struck a major deal with earlier this year to install its systems in 7,000 stores.
Taking into account the amount of money that flows through Starbucks stores each day, it’s entirely possible Square could see its yearly processing figure double.
Source: Square (Twitter)
Google has revealed that it plans to discontinue the Prepaid Card Program for early adopters of its Wallet service. Because the company recently updated its mobile payment service to offer compatibility with all major debit and credit cards, it feels the current prepaid program is redundant.
Thank you for being one of the first users of the Google Wallet app and for activating your Google Prepaid Card. Since we recently launched the ability to use any debit or credit card in Google Wallet, we are going to discontinue the Google Prepaid Card soon.
While Google may be terminating the program September 17th, the company is giving users an entire month (until October 17th) to use the remaining funds. After that point, abstainers will be charged $2.00 for every 30 days of inactivity, down from the usual 180 days. To avoid this fee, Google recommends using your card at least once before October 17th. So, be sure to take care of your remaining balance and link your account to a new card before the deadline rolls around. Hit the source link below for the full low-down.
Mobile payments have yet to catch on with the majority of smartphone users, but CyanogenMod is trying to change that through its partnership with SimplyTapp. Starting today, official builds of CyanogenMod 9.1 are being pushed out with SimplyTapp NFC integration, allowing users to make payments from their smartphones with a single tap. Currently, the Nexus S, Galaxy Nexus and Samsung Galaxy S II are supported, as well as a wide range of devices that have built-in NFC. Builds are rolling out right now, so if you’re interested in hopping on the mobile payment bandwagon, catch the official instructions and downloads after the break.