(snip) Seems that this article think this is merely a kludgy stopgap to fill a big feature hole
That's repeating the obvious. Of course the LoopPay option is a stopgap to cover places in the world without NFC. That's the whole point and the great advantage of it.
and Samsung will replace this with something better by next year.
No need. Where there is NFC, Samsung Pay uses that instead.
Even my corner convenience store had it 5 years ago. So, not sure were those 17% of terminals are hiding...
I did not say terminals. I said non-chip transactions. In other words, according to the backers of chip&pin, there's still plenty of purchases being made the old way.
Samsung Wallet might have been a better choice, given that Samsung wants you to use their payment system over the default payment system on Android (Google Wallet).
Yeah, except the problem is that Samsung already used "Samsung Wallet" a couple of years ago for their Passbook type app.
Besides, there's nothing wrong with using "Pay" to describe a payment method. Otherwise Apple should have avoided the word because PayPal already used it.
The backward compatibility with magnetic stripe systems is legitimately useful, at least for now. That said, there must be a reason BOTH Google AND Apple passed on the opportunity to buy LoopPay. My guess is that the card issuers really want to give retailers an incentive to upgrade to new payment systems rather than keep their old systems around for any longer.
Card issuers want people to spend money. Anything that allows quicker and easier payments is a plus to banks.
That's why they support NFC. And it's why MasterCard supports LoopPay with tokens, and we'll soon see if others do so as well.
Umm. There's something else that might be going on. Reportedly Samsung met with PayPal a few days ago. They've worked together in the past, and of course we all know that Apple dissed PayPal in Apple Pay because of that. (Talk about cutting off one's nose to spite one's face.) I'd not be surprised if we see a Paypal - Samsung Pay hookup.
I think the Galaxy S6 will sell well, and it represents the phone that the S5 should have been. I do wonder whether it is a day late and a dollar short.
I'm glad the so-so S5 reception gave them a kick in the pants. Their Note series are still tops, of course.
I'm just waiting for the end of this year, when they promised to bring out their first consumer folding phones. To me, such devices will be a game changer like no other.
Regards.