Samsung to launch an Apple Pay rival next year?

Apple’s iPhone 6 and iPhone 6 Plus were instant hits, shattering the Cupertino firm’s previous iPhone sales record. Not only was Apple’s new hardware hits, its software, iOS 8, also came with features Apple fans can’t get enough of. One of which is Apple Pay, Apple’s new mobile payment service that allows iPhone 6 and iPhone 6 Plus users to pay for stuff by simply waving their smartphones on NFC readers in shops across the US. To rival Apple Pay, Samsung is said to be cooking up its own mobile payment service.

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The news comes to us courtesy of Re/code. According to the site, “Samsung has discussed a deal with a payments startup that would help the smartphone maker unveil a wireless mobile payments system in 2015 to rival Apple, according to multiple sources.

“The technology would allow people with certain Samsung phones to pay in the vast majority of brick-and-mortar stores by waving their phones instead of swiping with a credit card or cash. Samsung’s new smartphone is expected to be announced in the first half of 2015.

“It is not yet clear if Samsung has reached a deal with the startup, Burlington, Mass.-based LoopPay. One source said the deal could still fall apart. A prototype of the payments system working on a Samsung phone has been created, the other source said.”

So what’s the advantage of partnering up with LoopPay? Check out the chart below.

Samsung-said-to-be-in-talks-with-LoopPay-about-embedding-its-mobile-payment-technology-into-Samsungs-2015-smartphones

Note that only US consumers can make use of LoopPay.

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