We can’t tell you how many mobile payment systems we have seen come and go, but today we were introduced to one that seems to run on magic. It’s called Loop, and it can store all of your credit cards, and all of your debit cards and other information, and allow you to use your smartphone to pay at checkout, all with no extra equipment or readers at the POS system.
Now this you may have heard before, we know we have as well in the past, but Loop works on Point of Sale machines (POS) that are already being used by merchants. There is no extra wand, no extra card, or special machine being used, you just store your data on your phone and wireless pay virtually everywhere.
As shown in the video above, Loop mimics the magnetic data that is in your card, then sends that information wirelessly to the checkout machine. It’s an amazing product, and watching it work on retailers that needed no extra setup is an incredible achievement. As the company states on their Kickstarter, “Why is that a big deal? Because for the first time, you can use your smartphone to better organize and use the cards in your wallet, and to better interact with the card issuers and merchants you do business with. Loop is all about making your life easier, keeping your cards more protected, and helping you look and feel like the trendsetter you are.”
You can check out more information and be one of the first people to get Loop, by checking out the official page below.
more info: kickstarter.com/loop