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”.
- Majority of Europeans would be happy with contactless transaction limits of up to €150
- Santander lets UK customers set own contactless transaction limit
- JFK International Airport gets contactless grab-and-go convenience store
- Google Pay goes live in Israel
- More than 67m contactless POS terminals shipped in 2020
This article is more than six years old