Samsung buys mobile payments firm LoopPay to take on Apple Pay

Smartphone maker aiming for the ‘smartest, most secure, user-friendly mobile wallet’ that will work with retailers’ existing point-of-sale terminalsUS startup LoopPay describes itself as “the most accepted mobile wallet on the planet”. Now it belongs to Samsung, after being acquired to bolster the company’s efforts to compete with Apple Pay and other mobile payments technologies.LoopPay’s technology helps retailers convert their existing magnetic-stripe readers into contactless pay