There was a time when paper currency was replaced by plastic currency as the payment alternative, the world over. Now as technology goes digital 24/7, new payment modes have emerged, with the most popular being mobile payment systems.
And when the discussion involves mobile systems, Apple Inc. (NASDAQ:AAPL) cannot be too far from it. True to its prowess as the creator of the smartphone device, Apple Inc. has built the mobile payment ecosystem, Apple Pay, around its secure access features on its latest iPhone devices.
And wherever Apple Inc. (NASDAQ:AAPL) is in the news, makers of the popular open source operating system smartphones, the South Korean giant, Samsung Electronics too ensures its presence. This time Samsung has acquired smartphone payment platform, LoopPay.
Now, the two philosophically opposite smartphone have drawn new battle lines with Samsung entering the mobile payment segment as well.
LoopPay in many ways is very different from ApplePay. LoopPay yet supports the use of the conventional credit cards in the payment process. Therefore, many believe the use of LoopPay will theoretically be more as it can be used as commonly as the credit card itself.
As Samsung prepares to launch LoopPay on its flagship Galaxy S6 smartphone as early as March 1, it is expected to disrupt Apple Inc. (NASDAQ:AAPL) market shares.
Besides, LoopPay also makes cases with embedded payment technology for several smartphone brands, including Apple Inc.. The iPhone 6 already has a LoopPay payment case of its own now.
And for devices for which LoopPay cases are non-compatible, LoopPay services them as well. It offers dongles on keychains to ensure a users’ mobile payment system travels with the user.
LoopPay’s advanced digital wallet solutions are all set to change Samsung Electronics fortunes, as the battle for market shares of the digital payment ecosystem begins, what with Apple Inc. (NASDAQ:AAPL) and Samsung drawing up full armories!