Samsung is often accused of copying Apple, the Cupertino company believes this itself which is why it has sued Samsung for just that multiple times, and its latest move might stoke those sentiments once more. You may remember that Apple Pay was unveiled in September, it is the first payments service from Apple, and now there’s a report which claims that Samsung is possibly developing an Apple Pay rival.
Citing multiple sources Re/code reports that Samsung has discussed the possibility with a payments startup and the service could potentially go live at some point next year. It will apparently be positioned as an Apple Pay rival.
The way it would work will be fairly simple. Supported Samsung devices could then be used to make payments at retail establishments by simply waving them over a terminal, eliminating the need to carry cash or cards.
The payments startup Samsung is reportedly talking with is LoopPay, based in Burlington, Mass. A source tells the scribe that there’s the possibility of this deal falling through, with another saying a prototype of this service working on a Samsung device has already been created.
So far there’s no comment on this report from Samsung. Will Graylin, the CEO of LoopPay, also declined to comment when contacted by the scribe.