25 April 2018
visit www.nextgenbanking.co.uk

Synchrony invests in mobile startup LoopPay

09 July 2014  |  1959 views  |  0 Source: Synchrony

Synchrony Financial today announced the completion of a strategic investment in LoopPay, Inc., an innovative mobile payments platform company.

LoopPay is expected to provide Synchrony Financial with special features and benefits for its cardholders and retail partners.

LoopPay recently introduced the LoopPay ChargeCase, which allows consumers to pay with their iPhone 5 or 5s at regular credit card swipe readers, while extending the phone's battery charge by up to 60%. It is the second product launched by LoopPay in four months, with several more products planned for market entry this year.

"These types of investments demonstrate our commitment to innovation and growth in the emerging payments space," said Margaret Keane, president and CEO of Synchrony Financial. "We are continuously exploring technologies to help our partners grow, while looking for additional options to deliver greater convenience and utility for our cardholders."

In a crowded mobile wallet marketplace, consumers are becoming increasingly interested in secure solutions to replace their physical wallets as merchant acceptance evolves. LoopPay technology enables existing point-of-sale infrastructure to accept contactless payments through mobile devices at the vast majority of retail merchants. Synchrony Financial views LoopPay as an opportunity to close this gap for its retail partners and their customers while offering an enhanced consumer experience and additional security features.

The terms of the investment were not made available.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
14653 views comments | 21 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11389 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
9653 views comments | 26 tweets | 36 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8737 views comments | 20 tweets | 36 linkedin
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
8719 views comments | 20 tweets | 21 linkedin

Featured job

Find your next job