Samsung buys LoopPay in warning shot to Apple

Samsung wants "to build the smartest, most secure, user-friendly mobile wallet."

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[Fotek]

Toleraen[/url]":dehyzhrj]

StealthFocus[/url]":dehyzhrj]Oh please, a warning shot really? A little hyperbolic I think. A case you have to carry around? To emulate a magnetic stripe swipe? They realize end of this year is last we're seeing magnetic strips as we switch to CHIP technology finally in this country?

Why can't we just stick with NFC used by Apple and Google already that doesn't require extra crap.

Magnetic stripes aren't going anywhere anytime soon. Q3 2015 is the target for chip/pin, but the entire industry won't be there day one. Plus, that just covers PCI related solutions. There are still closed loop payment methods, which I doubt retailers will want to spend the cash on a chip/pin for each throw-away card they issue. Mag stripes will still be the backup method, just like everywhere else.

Maybe this is true in the US but magnetic stripes are more or less dead in the UK and mainland Europe. Good luck trying to get something like LoopPay to work over here.