Mobile Payments News - Samsung Pay and PayPal with Paydiant

What a news day for mobile payments and I'm out of the country on business.

The folks over at Re/Code have it all.  Here is news of the new Samsung Galaxy and 'Samsung Pay'.

http://recode.net/2015/03/01/first-look-samsung-galaxy-s-6-galaxy-s-6-edge-finally-gets-a-premium-design/

Here is a snippet from that piece:

Last month, Samsung acquired a U.S.-based startup called LoopPay to launch a new mobile payments solution to compete with the likes of Apple Pay. The Galaxy S6 and Galaxy S6 Edge will be the first devices to incorporate that technology, though the feature won’t be available right at launch.

Called Samsung Pay, the technology is based on something called Magnetic Secure Transmission.

Here is news of PayPal's acquisition of Paydiant, the technology company behind MCX's CurrentC:

http://recode.net/2015/03/02/paypal-to-pay-280-million-for-paydiant-the-startup-behind-walmarts-apple-pay-competitor/

Here is a snippet from that piece:

PayPal isn’t giving up on payments in brick-and-mortar stores.

The eBay payment unit plans to acquire Paydiant, a payments startup that licenses a technology platform used by big retail chains to create their own branded mobile wallet apps. Multiple sources said PayPal will pay around $280 million for the Wellesley, Mass.-based startup. PayPal declined to comment on the price.

Founded in 2010, Paydiant’s white-label platform is used by Subway and other retailers and banks to add payment, loyalty and digital-coupon capabilities to their own apps. Its customer list also includes MCX, a consortium of big-box retailers led by Walmart that says it will launch its own mobile wallet app, CurrentC, later this year.

Happy Reading,

J.W. Gant

PS  Adding for the news on Google's new API level (software interface) payments kit dubbed 'Android Pay.
http://thenextweb.com/google/2015/03/02/google-is-working-on-an-api-level-payments-service-called-android-pay-but-it-wont-compete-with-wallet/

Here is a snippet from that piece:

“We’re working on something called Android Pay. It’s an API layer in Android, so that all the mechanics of payments can be done in a standardized and consistent way,” Pichai said.

He added that because Google is attempting to integrate a payments system at the OS level, it won’t actually compete with things like Samsung’s newly-announced Pay service or its own Google Wallet.