Samsung is developing a competitor to Apple Pay

Samsung apparently is in the midst of some talks with a company in the industry payments phones, and it plans to launch a new platform that will become the rival of Apple Pay. South Korea is trying to reach an agreement with the signing LoopPay, which allow customers to use their smartphones to buy products in various shops and, of course without the need to use a credit card or cash. In short, the concept is the same as Apple Pay, so it’s no surprise that both platforms are to become rivals.

While all this was not confirmed by Samsung, reports citing sources close to the matter, indicating that at this point is not yet certain that the company can achieve agreement that seeks to LoopPay.

A partnership between Samsung and LoopPay allow mobile users in South Korea can make payments quickly, simply passing your smartphone ahead of the corresponding system. It should be mentioned that the Samsung phone would have to be equipped with the technology of LoopPay that allows such payments.

Apple Pay, using NFC technology known to run, is seen by many as the beginning of a revolution in the world of mobile payments. Since arriving after mid-October, the system has received very good reviews and experts say is the most secure payment method that exists today. We must also remember that the iPhone 6 makes use of the fingerprint sensor to authorize the payment.

It seems that Samsung wants to compete with Apple in this sector at all costs, and failure to reach an agreement with LoopPay sure they will with another firm.