Samsung Wallet discontinued as LoopPay transaction revealed


Samsung Wallet will no longer be available for users beginning on June 30, 2015, according to an email sent to users as the handset giant preps Samsung Pay.

Back in February 2015, Samsung acquired mobile payments company

A Samsung Galaxy making a Samsung Pay transaction
Samsung Pay ready for launch – Wallet to be discontinued

LoopPay, and unveiled that Samsung Pay will be integrated into the Galaxy S6, so this move is not a huge surprise, the source notes. Various reports suggest that South-Korean electronic leader Samsung has spent $250m to acquire LoopPay, one of the world’s largest mobile wallet companies.

In the email sent to users, Samsung outlined some additional information to help clear up questions, such as the fact that coupons clipped with in the Samsung Wallet will no longer be available after the termination date; users will still have access to any tickets or reservations by visiting Samsung’s partner apps after the termination of Samsung Wallet; users personal information will be handled in accordance with the company’s privacy policy.

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