Market Overview

JP Morgan: Samsung's Acquisition Of LoopPay Is Good News For Apple

JP Morgan: Samsung's Acquisition Of LoopPay Is Good News For Apple

In a report published Wednesday, JP Morgan analyst Rod Hall discussed Samsung's (OTC: SSNLF) announcement that it has agreed to acquire LoopPay, a mobile wallet solutions provider that turns existing magnetic stripe readers into contactless receivers.

Hall wrote that if Samsung decides to propagate this technology, it will be good news for Apple Inc. (NASDAQ: AAPL) as it would expedite the creation of a larger NFC compatible payment infrastructure.

However, the analyst also added that payment network operations are already forcing a move to contactless payments by raising transaction fees for merchants who don't already provide contactless terminals

Shares of Apple closed Wednesday at $128.71, up 0.7 percent.

Latest Ratings for AAPL

Aug 2019Initiates Coverage OnEqual-Weight
Jul 2019MaintainsHold
Jul 2019MaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Apple Pay JP Morgan LoopPay NFC Rod HallAnalyst Color Analyst Ratings Tech Best of Benzinga


Related Articles (AAPL)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Benzinga's Top #PreMarket Gainers

Canaccord Genuity Upgrades Hologic To Buy