Samsung just made a major move in its bid for the company's own version of Apple Pay.
The South Korean-based company is acquiring the mobile payments platform and Apple Pay rival LoopPay, the two companies announced Wednesday.
Terms of the deal, first rumored back in December, were not disclosed. In a statement, Samsung said LoopPay's two founders will join the company, although the status of the rest of LoopPay's team is unclear.
"Our vision of inspiring consumers to transition from a physical wallet to a truly digital wallet will continue," LoopPay CEO and cofounder WIll Graylin said in a statement. "We look forward to working with Samsung to offer the world’s most secure and compelling mobile platform." Read more...
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