there are about a million mobile
payments apps promising to revolutionize
the way I buy things and I've tried just
about all of them Google Wallet level up
Isis square Wallet PayPal and others let
you purchase your daily cup of coffee
wirelessly over Bluetooth or NFC but
they're all kind of useless because they
don't work everywhere
I'm MELAS hamburger with average and
this is loop loops Hardware lets you pay
wirelessly at over 90 percent of
existing credit card terminals in the US
without retailer is having to do
anything
is this the mobile payment service I've
been asking for loop is a magnetic
conductor that emulates the swiping of a
magnetic strip credit card at launch
loop comes inside a Mophie like charge
case for your phone or a square plastic
fob you can hook on a keychain or just
keep in your pocket after loading your
cards into the loop app using a supplied
reader you can hold the charge case or
fob up to a credit card reader press a
button and the reader accepts the
transaction as if you'd swipe your
credit card it's kind of amazing new
craftsmen's magnetic falsies that emily
the swiping of the next ride called
those are the same magnetic pulses
organized the same way as the date on
the next ride and the terminal reads it
just like the magnetic stripe and
therefore we are compatible with any mag
stripe reader today expecting the
retailer could take expecting a new
network to arise is someone optimistic
given the history of point of sale where
equivalent life cycles are only every 7
years we are not going to see a major
change
I took a loop charge case in loop Bob
around town to see if terminals could
read it and of course to see if cashiers
would actually let me use it I gave a
cashier at the local deli my fob and
asked her to hold it against her credit
card reader and press the button on its
side she was pretty skeptical at first
but she tried it and it worked
loop worked at a bodega - though the
cashier was equally confused it even
worked in both taxicabs I tried work
better in fact since I didn't even have
to convince anyone to let me touch my
gadget to their credit card machine both
loop devices however were foiled by
Subway ticketing machines and ATMs that
require you stick card in to trigger a
switch which in turn reads the card I'm
incredibly impressed by the loop
technology but not by its first two form
factors the loop fob is the more
reliable of the two but it can only
transmit one card at a time and at
nearly an inch thick it's more annoying
the carry around
a few credit cards the loot charge case
is the more logical form factor since it
also charges your phone and doesn't
require you to carry around anything
extra but its build quality leaves a lot
to be desired its plastic body feels
much less sturdy than ammo fee and it's
also fatter than a mochi even though
it's shorter the charge case connects to
your phone using bluetooth where you can
pick which card you want transmitted at
any time inside the loop wallet app so
it feels a bit more advanced than the
fob neither loop form factor is right
for me after all aren't mobile payments
about killing the wallet limiting the
crap you're carrying around but loot
most closely approximates a future where
payment tech is truly integrated into
our phones and works everywhere and
betting this technology in a handset is
very easy the core cost
relating to the magnetic transmission is
well under $1 indeed if the phone is
already embedding wireless charging you
can reuse a lot of the components used
in wireless charging loop shows that
even when your tech works on most
readers trying to rely on one mobile
payment service is still too cumbersome
with the big marketing push from Samsung
or another top phone maker Luc could
become well-known enough that I wouldn't
need to explain it to every cashier I
run into but for now pretty often I just
wanted to pull out my credit card swipe
and be done with it even if mobile
payment services are smarter are they
actually easier to use than a credit
card the answer is still no
you
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