Loop has announced the release of its LoopWallet app to U.S. consumers, making them the first to rely on mobile devices as their primary method of payment instead of cards or cash.
“Loop users are making history as they embark on an exciting new era of secure smartphone-enabled payments. Loop gives users an intuitive way to simplify and organize their wallets. Just download the free LoopWallet app, order a Loop AppCessory, swipe your cards into your smartphone, and pay at almost everywhere in the world,” said Will Graylin, CEO of Loop. “It’s a true breakthrough that brings more convenience to consumers and with a new level of security beyond chip cards.”
Loop integrates the highest level of Payment Card Industry (PCI) security, and can conveniently store all types of cards from payment cards to gift cards.
With its patented technology, payment card data is encrypted and stored in dedicated hardware secure memory, within the Loop Fob or any Loop enabled device.Loop’s technology can generate card data every time a payment is made, making such data unusable for those trying to clone a card. Its contactless chip does not wear out and fits into virtually any form factor that consumers want to carry such as smartphones and smart watches.
“Loop is a true breakthrough, connecting consumers’ payment options directly to the smartphone, and allowing them to pay at more retailers, merchants and restaurants than any other solution on the market. We’re thrilled to be making this announcement.” said Graylin.
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