Samsung to take on Apple Pay

LoopPay isn't really a start-up anymore... Perhaps when breaching global markets, but they already cover the USA. Plus, LoopPay was there already, Apple Pay only rocked up later. Interesting though, the LoopPay CardCase only supports Apple iPhones at this stage, Samsung can't throw this out... without damaging the reputation. This is similar to the case where Samsung purchased the chipset/memory plants which was already producing memory under contractual agreement with Apple.
 
Fulcrum29 said:
LoopPay isn't really a start-up anymore... Perhaps when breaching global markets, but they already cover the USA. Plus, LoopPay was there already, Apple Pay only rocked up later. Interesting though, the LoopPay CardCase only supports Apple iPhones at this stage, Samsung can't throw this out... without damaging the reputation. This is similar to the case where Samsung purchased the chipset/memory plants which was already producing memory under contractual agreement with Apple.
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They are still living off VC funding. How are they not a startup??
 
JStrike said:
They are still living off VC funding. How are they not a startup??
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Their potential over the short term claimed them a near ~90% market share in the USA, this is an exceptional growth rate, however these numbers was reported by LoopPay. Just because they still have a percentage venture capital doesn’t position them uniquely as a start-up. I’m also sure that the Samsung partnership with LoopPay which had grown into an acquisition will had balanced out the capital over several strategic decisions.

Samsung was partnered with LoopPay since 2013, while LoopPay was developing along the Apple route, also accommodating the latest iPhone devices. The decision now stands, to quote David Eun,

http://www.cnet.com/news/samsung-buys-looppay-all-but-confirming-new-apple-pay-rival/

"What's a real differentiator is this uses technology that's in stores today," David Eun, executive vice president of Samsung's global innovation center, said in an interview. "We don't have to wait for a point in the future where there are a lot more [NFC-enabled] terminals. "

Eun's group -- formerly called Open Innovation Center -- was formed to partner with, invest in and buy companies. It led the earlier acquisitions of smart home software maker SmartThings and cloud DVR startup Boxee.

He declined to say whether LoopPay will continue to work with the iPhone and other smartphones or whether the technology will become exclusive to Samsung devices. He also declined to provide further details about how the technology will be incorporated into Samsung's products, beyond saying that "strategically, it's huge."

"It's not just about replacing your credit card or debit card but replacing your entire wallet," Eun said.
Click to expand...
 
Fulcrum29 said:
Their potential over the short term claimed them a near ~90% market share in the USA, this is an exceptional growth rate, however these numbers was reported by LoopPay. Just because they still have a percentage venture capital doesn’t position them uniquely as a start-up. I’m also sure that the Samsung partnership with LoopPay which had grown into an acquisition will had balanced out the capital over several strategic decisions.

Samsung was partnered with LoopPay since 2013, while LoopPay was developing along the Apple route, also accommodating the latest iPhone devices. The decision now stands, to quote David Eun,

http://www.cnet.com/news/samsung-buys-looppay-all-but-confirming-new-apple-pay-rival/
Click to expand...

That is exactly what positions them as a startup. It is the very definition. They hadn't exited yet. Now they have
 
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