The company, founded in 2012 by payment industry experts, has developed a
magnetic transmission based technology in form of a mobile cover and
card. Credit or debit card details can be loaded in LoopPay's mobile
phone applications.
"We are looking at expanding our presence in late 2015 including India. We believe India, China and Japan would be have appetite for this technology," LoopPay CMO Gregory Mann told PTI at Consumer Electronics Show.
"An user can select the card on mobile phone application from which he wants to pay and touch the cover on any normal card swipe machine to pay and transaction will happen. There is no need for retailers to install any additional device like card readers or anything else to accept payment from mobile phone," Mann said.
"We are looking at expanding our presence in late 2015 including India. We believe India, China and Japan would be have appetite for this technology," LoopPay CMO Gregory Mann told PTI at Consumer Electronics Show.
"An user can select the card on mobile phone application from which he wants to pay and touch the cover on any normal card swipe machine to pay and transaction will happen. There is no need for retailers to install any additional device like card readers or anything else to accept payment from mobile phone," Mann said.
Source: Gadget Reviews India and Autonews 2015
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