Sign up to receive 5 free days of our daily summary for tech news.

Read this article for free.

Already a subscriber? Log in here


Samsung Goes Loopy On Payments

In buying LoopPay, Samsung is hoping to counter Apple’s jump into mobile payments. Instead, Samsung may have just acquired a white elephant, mobile payment technology that could become obsolete almost immediately.

LoopPay looked attractive to Samsung because its technology doesn’t require merchants to have the same specialized chip readers needed to accept Apple Pay or Google Wallet. Instead, LoopPay works with any standard “swipe”-style credit card terminal. Its secret: a loop of copper that, when energized, can emit a pulse that fools the magnetic stripe reader in most credit card terminals into thinking it’s a credit card.

Right now the loop is an accessory that comes in either a key fob or a phone case, but LoopPay and Samsung have said they intend to build it into a handset eventually. It’s unclear how the technology will relate to Samsung’s existing digital wallet.

What Is The Information?

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting, stories, and exclusives you won't read anywhere else from the largest newsroom in tech.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Go deep into areas like crypto and VC diversity—or get real-time analysis of breaking news—via conference calls with our reporters and other experts.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, subscribers get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

Access the best reporting on the tech industry read by tens of thousands of global executives.

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Share with your team

Subscribers can unlock any article and share it with friends and co-workers through a special share link.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles


Apple’s iPhone Prices Soar, but Not Profit Margins

By Aaron Tilley


Bitcoin Cash Drama; App Store Dust-Up

By Jon Victor

Apple AI

Apple Acquires AI Device Startup Silk Labs

By Aaron Tilley

Apple Entertainment

Apple Considered New Connected TV ‘Dongle’

By Aaron Tilley and Jessica Toonkel

LoopPay’s technology would likely hit markets this fall, right around the time merchants are upgrading to EMV terminals that will make LoopPay obsolete.