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Samsung acquires Apple Pay competitor LoopPay

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The Samsung-Apple rivalry has entered the mobile payments space: Samsung has acquired Boston-based mobile wallet solutions provider LoopPay for an undisclosed amount. LoopPay makes cases for popular smartphones with its technology built into it, that turns existing magnetic stripe readers into mobile contactless receivers. Following the acquisition, LoopPay founders Will Graylin and George Wallner are expected to start working with Samsung’s Mobile…

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