Samsung paid about US$250m to acquire LoopPay, developer of the magnetic secure transmission (MST) technology that will form a key part of Samsung Pay when it launches later this year, according to Recode. The figure could rise based on executive or company performance but “the terms of the earnouts are not known”.
- Canadian credit unions add Google Pay support for domestic debit cards
- One in three Canadians make mobile contactless payments ‘on a regular basis’
- WeChat Pay lets users charge in-store mobile payments to their credit card
- PCI publishes CPoC standard for accepting contactless payments on off-the-shelf NFC devices
- Grab to issue mobile-first numberless Mastercard across SE Asia
