Samsung Electronics is about to launch the LoopPay Valet

In February 2015 Samsung has acquired mobile wallet solutions provider LoopPay. This startup company invented a mobile wallet technology called MST (Magnetic Strip Technology). The current Samsung Pay solution is already compatible with MST, alongside NFC. As a result, Samsung’s mobile payment system is supported by considerably more US stores than those that only offer NFC, like Apple Pay and Android Pay.