NFC or no NFC, Loop enables you to accept and make cashless payments

Currently in USA, companies like Google, MasterCard, ISIS, etc. are working on building an NFC enabled ecosystem. Device makers in the USA have started making NFC enabled phones. Merchants are finding it tough to pay for NFC enabled readers as they have high acquisition costs. Loop, a Boston based startup claim to have found a solution to the NFC problem that is affecting consumers and merchants.

On 8th October 2013, Loop announced the introduction of a new payment enabling technology. Which consists of a smartphone app using magnetic field technology to enable customers to ma ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 30 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.