Mobile Tech Today

CIO Today Network Sites:   Top Tech News  |   CIO Today   |   Mobile Tech Today   |   Data Storage Today
News & Product Reviews for Mobile Tech Users
APC Free White Paper
Optimize your network investment &
Enter to win a Samsung Galaxy Note

www.apc.com
Thursday, April 24th 
24/7/365 Network Uptime!
Trending Topics:   Security Heartbleed Big Data Cloud Computing Windows XP Data Centers OS X Mavericks
Home
Laptops & Tablets
Mobile Phones
Mobile Gadgets
Mobile Apps
BYOD & MDM
iPad
Mobile Industry News
Wireless Connectivity
Wireless Security
GPS & Maps
MTT Press Releases
 
Free Newsletters
Top CIO News
 
Mobile Tech Today
 

Customer Service

Loop Puts Credit Cards on a Fob and Smartphone App

Loop Puts Credit Cards on a Fob and Smartphone App
February 20, 2014 10:23AM

Bookmark and Share
"The Loop AppCessory would appear to be a very inexpensive add-on device that plugs into the headphone jack much like the Square credit card meter. But rather than enabling the iPhone users to accept credit cards it would allow their iPhones to essentially mimic credit cards," said analyst Ross Rubin.

BMC is redefining the relationship between I.T. and business. Now I.T. can provide easy access to business services, support and applications -- anywhere, anytime, and from any device. Meaning a more efficient business and an even more innovative I.T. Learn more here.

Are you in the loop? If you have a smartphone and you have been looking for a commerce solution that's accepted at a majority of retail point-of-sale terminals, you may want to tap into the LoopWallet app.

Developed by Loop, the app lets U.S. consumers rely on mobile devices as their primary payment method instead of cards or cash. That means you don't necessarily need multiple apps to pay, such as a Starbucks app and a PayPal app (unless you just want the free coffee rewards the former offers for using its tech).

"Loop users are making history as they embark on an exciting new era of secure smartphone-enabled payments," said Will Graylin, CEO of Loop. "Loop gives users an intuitive way to simplify and organize their wallets. Just download the free LoopWallet app, order a Loop AppCessory, swipe your cards into your smartphone, and pay at almost everywhere in the world. It's a true breakthrough that brings more convenience to consumers and with a new level of security beyond chip cards."

Secure Mobile Payments

Want to try it out? The LoopWallet app is available in Apple's iTunes App Store, with an Android version planned for release in April. Loop is also offering the Loop Fob for sale on its Web site for $39. The company called it the first of many AppCessories that give users the ability to swipe and store their credit or debit, gift and reward cards into their smartphones with security safeguards.

Next question: What does Loop mean by secure? Loop said its payment app integrates the highest level of Payment Card Industry (PCI) security, and can store all cards, from payment and gift cards to loyalty and reward cards and beyond.

Here's how it works: With its patented technology, payment card data is encrypted and stored in dedicated hardware secure memory, within the Loop Fob or any Loop-enabled device. Partnering with payment card issuers, Loop's technology can also generate dynamic card data every time a payment is made and make that data unusable for those trying to clone a card. Loop said its contactless chip does not wear out and fits into virtually any form factor that consumers want to carry, including smartphones, fobs, charge cases, and smart watches.

Will It Pay Dividends?

Loop was founded by two payment industry pioneers, Will Graylin and George Wallner, both with histories of delivering widely adopted payment innovations. Loop was oversubscribed in its initial fund-raising of $12 million. The company's investors believe it has the potential to ignite mobile payments at the physical point of sale. (continued...)

1  |  2  |  Next Page >

 

Tell Us What You Think
Comment:

Name:



 Customer Service
1. Bezos Talks Grocery Delivery, Drones
2. Watson Boosts Customer Engagement
3. Comcast Customer Service Makeover
4. High Cost of Great Customer Service
5. Customers Need Marketing's Attention


Have an informed opinion on this story?
Send a Letter to the Editor.
We want to know what you think.
Send us your Feedback.

 Related Topics  Latest News & Special Reports

  OnePlus One Boasts Android Weapon
  Samsung Gear Fit Geared for Exercise
  Google Sharpens Contact Lens Vision
  Samsung: $2.2B Too Much for Apple
  Review: Windows Phone Advances

 Technology Marketplace
Business Intelligence
Get real-time, cloud-based information services with Neustar.
 
Cloud Computing
Next Generation Data Center Is Here! Vblock™ Systems from VCE
 
Contact Centers
HP delivers the future of the contact center with HP Qfiniti 10.
 
Data Storage
Next Generation Data Center Is Here! Vblock™ Systems from VCE
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Enterprise Hardware
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Hardware
Protect your network with APC Smart-UPS battery backup
 
Network Security
Protect your network with APC Smart-UPS battery backup
 

Network Security Spotlight
What Verizon's Data Breach Report Can Teach Enterprises
It’s probably not a jaw-dropper, but cyberespionage is officially on the rise. And the use of stolen or misused credentials is still the leading way the bad guys gain access to corporate information.
 
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Where Do Web Sites Stand, Post-Heartbleed?
A security firm says the vast majority of Web sites have patched themselves to protect against the Heartbleed bug, but now there are questions raised on the reliability of open-source programs.
 
Navigation
Mobile Tech Today
Home/Top News | Laptops & Tablets | Mobile Phones | Mobile Gadgets | Mobile Apps | BYOD & MDM | iPad
Mobile Industry News | Wireless Connectivity | Wireless Security | GPS & Maps | MTT Press Releases
Also visit these Enterprise Technology Sites
Top Tech News | CIO Today | Mobile Tech Today | Data Storage Today

Services:
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About CIO Today Network | How To Contact Us | Article Reprints | Services for PR Pros (In partnership with NewsFactor) | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 Mobile Tech Today. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.