Market Overview

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

Share:
JP Morgan: Samsung's Acquisition Of LoopPay Is Good News For Apple
Related AAPL
Barron's Picks And Pans: Apple, Viacom, Micron And More
4 Of The Most Valuable Modern Tech Patents
Fifth Portfolio Review - 'The Accelerated Dividend Portfolio' (Seeking Alpha)

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

DateFirmActionFromTo
Mar 2017NomuraMaintainsBuy
Mar 2017NeedhamDowngradesStrong BuyBuy
Mar 2017BernsteinMaintainsOutperformOutperform

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!