LoopPay to Provide Competitive Carriers Association Members with Breakthrough Mobile Wallet Solution

LoopPay allows regional carriers to offer a mobile payment solution for iOS and Android customers that works at 90 percent of retail merchants today

Super Mobility Week 2014

LAS VEGAS--()--LoopPay, Inc., the world’s first ubiquitously accepted mobile payment platform provider, today announced a strategic partnership with Competitive Carriers Association (CCA – with more than 100 carrier members including Sprint, T-Mobile, US Cellular and dozens of other carriers) to deliver LoopPay’s industry-leading mobile wallet experience to members of CCA along with a Mobile Money offering in partnership with nD bancgroup.

LoopPay delivers a solution that no other mobile wallet can provide – not even Apple Pay – for the iPhone. LoopPay’s breakthrough mobile wallet solution enables instant, ubiquitous acceptance with more than 90 percent of today’s retail merchants, with no change to their existing point-of-sale (POS) systems. LoopPay allows users to securely swipe-in or scan-in all their plastic cards, and to securely transmit mag stripe card data wirelessly to almost every POS system, enabling a tap-to-pay experience. nD bancgroup is offering CCA members a turnkey Mobile Money service leveraging LoopPay, its preferred mobile wallet partner.

“We are always looking for innovative solutions to help our carriers deliver the best consumer experience possible,” said Steven K. Berry, CEO, CCA. “Our members need unique points of differentiation and multiple revenue streams to compete against the larger carriers. Innovative solutions from companies like LoopPay, together with nD bancgroup, allow our members to offer a solution that is accepted at 90 percent of all point-of-sale locations globally, about 10-times more acceptance than all Android and iPhone NFC-based solutions combined, which is very important to generate consumer adoption.”

Through this program, CCA carrier members will be able provide a practical mobile wallet that consumers can depend on, which can be co-branded with carriers at a small fraction of what larger carriers have invested in for mobile payment solutions to date. The program includes carrier-branded digital and physical cards from nD bancgroup that are preloaded onto the LoopPay app, with revenue share to carriers based on card usage, through nD bancgroup’s Mobile Money services. Benefits to carriers also include a differentiated offering that consumers will use frequently for physical retail commerce, as well as online and in-app commerce. Hardware revenue from accessory sales, revenue shares from merchant offers, and deals promoted with the mobile wallet platform also benefit carriers, who can leverage the solution for convenient pre-paid top-up, and bill payments.

“We are delighted to partner with CCA and nD bancgroup to offer carriers a cost-effective and scalable mobile payments solution,” said Will Graylin, CEO, LoopPay. “We are committed to delivering the best possible mobile wallet experience that consumers can depend on. Mobile wallets should be convenient, secure and work everywhere. With LoopPay, that’s exactly what we’re offering to carriers for their customers.”

About LoopPay

LoopPay invented the world’s first and only mobile payments solution that turns your phone and other smart devices into a way to pay that works virtually everywhere. Based in Boston, MA, 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. LoopPay’s mobile wallet application allows consumers to securely store and manage all their cards and pay with their LoopPay devices (accessories, smartphones, smart watches). The LoopWallet app reduces the clutter of plastic cards (payment, gift, loyalty, ID, membership) allowing users to leave their plastic cards and wallets behind with confidence. LoopPay provides not only convenience for consumers, but also the highest level of payment security to protect consumer card data. All card track data are encrypted and stored in secure memory within any LoopPay-enabled device. LoopPay is a Level One PCI Certified Payment Provider and is working with Visa and others on tokenizing the card data it transmits to work on virtually all mag stripe and EMV-based payment POS terminals worldwide. To learn more and order LoopPay products, visit: www.LoopPay.com

About CCA

CCA is the nation’s leading association for competitive wireless providers and stakeholders across the United States. The licensed service area of CCA’s more than 100 carrier members covers 95 percent of the nation. For more information, visit: www.competitivecarriers.org

About nD bancgroup

From banks and financial services companies, to mobile operators to technology companies to retailers, nD bancgroup provides embedded, flexible, real-time transaction and payment services optimized for the mobile channel. For more information, visit: www.ndbancgroup.com

Contacts

Contact information:
For LoopPay, Inc.
Susan Frechette, (617) 502-4300
Loop@pancomm.com
or
For CCA
Lucy Tutwiler, (202) 747-0714
Lucy.Tutwiler@competitivecarriers.org

Contacts

Contact information:
For LoopPay, Inc.
Susan Frechette, (617) 502-4300
Loop@pancomm.com
or
For CCA
Lucy Tutwiler, (202) 747-0714
Lucy.Tutwiler@competitivecarriers.org