In 2015 Samsung purchased LoopPay to enter the mobile payments market. LoopPay (and what later became Samsung Pay) is unique in that it can be used on terminals that that don’t normally accept near field communication (NFC) payments. The Founder of LoopPay has now launched a new all-in-one card called ‘OV Valet’. All in one cards were extremely popular in 2015, but most failed to actually to materialize a real product and those that did didn’t live up to the hype.
The advantage of the OV Valet card is that it uses the technology behind LoopPay and Samsung Pay meaning it can be used at 94% of current terminals. It’s possible to pre order the OV Valet card for $69 and it’s expected to ship in Q1 of 2021. Most people will still find mobile wallets more convenient and I don’t see a use case for paying $69.
