Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Prepare For A New Front In The Apple Inc. (AAPL), Samsung War: Payments

Apple Inc. (NASDAQ:AAPL) may have another front it needs to confront Samsung Electronics Co. Ltd. on if a report from Re/code’s Jason Del Rey proves to be correct.

According to Del Rey, Samsung is working on a payment system that is inspired and meant to compete with Apple Inc. (NASDAQ:AAPL)’s Apple Pay system.

However, the difference with the technology Samsung will be using to battle with Apple Inc. (NASDAQ:AAPL)’s payment platform is that even on the onset, it would work in “far more locations than Apple Pay or Google Wallet,” Del Rey reports.

Apple, is AAPL a good stock to buy, Samsung, Apple Pay, electronic payments, LoopPay,

The reporter said that “several sources” have revealed that Samsung is indeed in talks with a startup in creating a wireless mobile payments system and launching it next year. That startup is LoopPay, which develops technology that can wirelessly communicate the identifying information that a debit or credit stores.

The technology seems simple enough to use. It’s similar to near field communication (NFC) in the sense that a user of LoopPay’s technology taps their LoopPay-enabled device near the terminal usually reserved for swiping cards.

The difference, however, is that stores do not need new equipment to get the information transmitted by the startup’s magnetic secure transmission devices which, according to Del Rey, includes a fob and a LoopPay digital payment card which can be secured inside a special smartphone case or used as it is.

With Apple Inc. (NASDAQ:AAPL)’s Apple Pay system and Google Inc. (NASDAQ:GOOGL)’s Google Wallet system, establishments need special NFC devices that can read transmissions from NFC-enabled smartphones.

Nonetheless, Del Rey’s report implies that Samsung’s system will also use NFC when available. The reporter also said that the fingerprint readers of Samsung smartphones are also likely to be used for the new payment system.

George Soros’ Soros Fund Management held about 1.14 million Apple Inc. (NASDAQ:AAPL) shares by the end of the second quarter. That’s a marked 38% decrease in the firm’s holdings in the iPhone maker quarter-over-quarter.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!