After having been available for iOS users for some time, Loop is now making its LoopWallet mobile payment app and accessory available for Android users. The mobile wallet accessory allows users to pay for goods and services at local merchants without relying on newer near field communications, or NFC, technology, making it compatible with more merchants.

Because the LoopWallet dongle sends the stored credit card information wirelessly to a credit card reader at merchant locations, merchants do not need to upgrade to newer point-of-sales systems that come with NFC technology. As such, Loop claims that its dongles work with up to 90 percent of existing payment terminals right now, rather than competing services like Google Wallet and ISIS that require NFC support.

In order to pay with Loop, users will need to order the $39 dongle and download the free app on the Google Play Store. You will need to run at least Android 4.2 on your smartphone to use Loop. Essentially, you'll swipe in your credit cards using the dongle, which will store the information on your card's magnetic stripe inside the app. Once you're ready to pay, you hold the dongle up to the credit card machine at your favorite store, press a button on the dongle, and the dongle will transmit the information allowing you to pay.

 

Reader comments

LoopWallet mobile payment app and fob now available for Android

16 Comments

The point is that with NFC you can only use it at stores that already accept it, this can be used anywhere

Posted via Android Central App

Anywhere that doesn't take one look at the obviously fake card and call the cops.

The stripe (or chip, on new cards) is only part of the verification.

Posted via Android Central App

I pay with my phone often (I try to shop at places that have NFC) and I have never been denied a purchase because I didn't use a physical card. There have been a couple times (on purchases greater than $100) where I have been asked to show my ID which they match against what was shown on their terminal.

When I use my phone to pay for cab rides over $50, I usually have to sign the receipt, but that's it. No one's ever questioned the validity of the purchase, and I use it all the time.

Didn't all the credit card companies in the US say a month or so ago that they were going to join the rest of the world and convert to chip and pin?

Posted via Moto X

I read that recently too. It may take a few years but it will be great when we see more and more places with NFC. I'll be waiting for that instead.

From their website: Magnetic Secure Transmission (MST) technology generates changing magnetic fields over a very short period of time. This is accomplished by putting alternating current through an inductive loop, which can then be received by the magnetic read head of the credit card reader. The signal received from Loop emulates the same magnetic field change as a mag stripe card when swiped across the same read head. Loop works within a 4-inch distance from the read head. The field dissipates rapidly beyond that point, and only exists during a transmission initiated by the user.

In non nerd speak it wirelessly generates the same action as a physically swiped card, thus theoretically working with all terminals. The only ones (on paper) that wouldnt work are atms or machines that 'eat' your card, as well as possibly the readers you push the card into and pull out because of the depth of the head reading the card is too far for the signal.

Posted via Android Central App

This is a great gadget. I just like nfc better because I don't need an extra device. Also for $39 I don't think I'm going to jump on this yet.

Posted via Nexus 5 Android Central App

The company will (eventually),create a case similar to the iPhone 5 case they have that has the EMV tech embedded into it so you won't have to worry about a fob. Unfortunately they're unsure about what android devices to support to it will be a crapshoot until they gain more public notoriety/get more funding

I been using the loop for about 6 week and it works great. I had only one problem at Lowe's. I would like to use Google wallet but since Verizon block it on 4.3 loop pay is the next best thing. Also I don't have to have my phone with me to use it.

Google Wallet now has a FREE MasterCard that can be used when your device doesn't have NFC or the merchant doesn't have NFC. Not to mention all features that the Google Wallet has built into it, with being added all the time.

Posted via Android Central App