LAS VEGAS, Nev.--(BUSINESS WIRE)--LoopPay, Inc., the world’s most accepted mobile wallet solution, announced today two new OEM partners that will embed LoopPay’s technology into their products to let consumers turn their smartphones into mobile wallets. In addition to the new LoopPay products on display at the International Consumer Electronics Show (CES), which include the LoopPay Card and CardCase for iOS and Android, the company is now working with OEM partners to embed its patented technology into a broad array of devices, from cases and accessories to wearables and smartphones. The two new OEM partners announced at CES include XPAL Power (subsidiary of TennRich International - who manufactures products for companies like Mophie and Belkin), and Trident Case®, a leading ruggedized phone case manufacturer, with many other partners in the pipeline. LoopPay is also working with chipmakers to embed LoopPay’s technology and security into silicon, making it easier for future OEM partners to incorporate LoopPay into their devices.
LoopPay’s patented Magnetic Secure Transmission™ (MST) technology can send standard mag stripe card data or send one-time-use Tokenized card data to existing merchant POS systems. Near-field-communication (NFC) technology, which mobile payment solutions like Apple Pay rely on, is currently only accepted at about three percent of U.S. merchant locations. LoopPay’s MST is accepted at nearly 90 percent of merchant locations today, making it the world’s most accepted mobile wallet.
XPAL Power is expected to embed MST technology into its products, including a new back cover for the Samsung Galaxy S® 5 coming in early 2015. “I am excited to work with this great new mobile payment system and bring MST technology to the Galaxy S 5, one of the world’s best-selling smartphones. This technology will allow consumers to make payments with their phones almost anywhere they swipe a credit card today with existing merchant hardware – that means no new POS equipment is required,” said Christian Scheder, CEO of XPAL Power.
Trident Case has also entered into a strategic alliance with LoopPay to bring to market a new series of rugged Trident smartphone cases that include MST technology. Trident is developing a LoopPay-ready case for the Samsung Note 4 with availability later in 2015. “We’re very excited to introduce this line of cases using LoopPay’s advanced contactless payment technology,” said Vickie Achee, Trident Vice President of Marketing.
“Consumer interest in mobile payments has skyrocketed recently. However, to reach widespread adoption and usage, consumers need a technology that’s secure and convenient. Convenient means letting consumers use the cards they want at the places they shop (what a wallet should do),” said Will Graylin, CEO of LoopPay. “We invented a solution that lets users digitize all of their cards and works virtually everywhere. We want to deliver the kind of convenience that can start shifting people to rely on their mobile wallets and leave their physical wallets at home.” Graylin will speak at CES on Jan. 6 at the Las Vegas Convention Center, on “The Future of Mobile Payments.”
The LoopPay CardCase is now available for the iPhone 6 at $59.95, with the iPhone 6 Plus CardCase expected Feb. 1, 2015. The CardCase comes with a hidden compartment to conveniently hold a driver’s license and backup payment card without adding bulk to the case, allowing consumers to leave their physical wallets at home. Android users can purchase a standalone LoopPay Card accessory for $49.95.
The LoopPay Card and CardCase are available online at LoopPay.com, Amazon.com, and are featured in the SkyMall print catalog available on thousands of daily airline flights. LoopPay was recently ranked highest by the leading consumer review magazine when compared to Apple Pay, Google Wallet and Softcard, and is the most accepted mobile wallet in the world today.
CES attendees are encouraged to visit LoopPay in the South Hall of the Las Vegas Convention Center (LVCC), booth #21928 for live demonstrations. Click here for more information on “The Future of Mobile Payments” discussion featuring LoopPay CEO Will Graylin, Tuesday, Jan. 6, 9:00–10:00 a.m. at the LVCC North Hall room N261.
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About LoopPay™
Founded in 2012 in Boston, MA, LoopPay is the most widely-accepted mobile payment provider, empowering consumers to finally leave their physical wallets at home. LoopPay’s patented Magnetic Secure Transmission™ (MST) technology turns existing mag stripe readers into mobile contactless readers without any change or cost to merchants or their payment processors, providing tokenized security and two-factor authentication for secure mobile payments at more than 10-million locations today. MST can be embedded into any device, including smartphones and wearables for less than $1. Consumers can today select from an array of devices that match their phones and lifestyles, including the LoopPay Fob, ChargeCase, CardCase and Card. All cards including payment, gift, loyalty, reward and IDs can be stored in the LoopPay app for convenience and security, as all data is password and PIN-protected. LoopPay also encrypts and stores all card track data in secure memory within any device and is a Level One PCI Certified Payment Provider. To learn more and order LoopPay products, visit www.LoopPay.com.