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Consumer Reports picks LoopPay as winner of mobile wallet face off
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LoopPay was chosen as the hands down winner of a head-to-head review of mobile wallets against Google Wallet and Softcard.
The senior editor also wrote an article after reviewing Apple Pay's spec which uses the same NFC technology as Google and Softcard and believes that consumer accessibility is the key to convenience and adoption.
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Will Graylin on Apple Pay Compared to LoopPay
I have been answering a lot questions from the media and partners regarding LoopPay vs. Apple Pay. It is exciting to see Apple enter the mobile payments market; Apple has certainly caught the imagination of the public for using your mobile device as your wallet!
The real competition for Apple Pay, LoopPay or any mobile wallet is to change the consumer's habit of using plastic cards. To switch, consumers must have the convenience of using the cards they want, at the merchants they shop, and with the devices they choose to carry. Offers and loyalty will surely enhance the user experience, but without the basic ability to replace plastic for payments, a mobile wallet simply cannot be called a "wallet".
LoopPay's invention enables ubiquitous accessibility fundamental to mobile wallet adoption. While we're not perfect yet, our solution is an order of magnitude better than the NFC technology that Apple Pay is currently using. NFC is accepted at about 3% of merchants, vs. LoopPay at more than 90%.
Moreover, the NFC standard does not support gift cards, loyalty cards, or private label cards like Target, Macy's, Starbucks, Wal-mart and thousands more. LoopPay does.
LoopPay works on iPhone 6 and 6 Plus, 5/5c/5s, 4/4S, and hundreds of Android phones.
This is why LoopPay is the consumer's choice.
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