Preview: Loop lets you pay with your smartphone on existing credit card readers


Paying for goods at retail stores with our phones has been talked about for years, but mobile payment startup Loop is close to making it a reality. Its upcoming offerings, the $39 Loop Fob attachment and $99 Loop ChargeCase, will still be external to your phone when they arrive in late April, but the firm is working with manufacturers to include its technology in smartphones for as little as $1 per device. Loop works by using a transmitter to generate a small magnetic loop that can be used on traditional point-of-sale systems in lieu of swiping a credit card. To...

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