LoopPay has begun shipping its iPhone case, which can be used to make credit card payments at any magnetic swipe terminal. Instead of using near-field communications or special software, Loop’s ChargeCase creates a magnetic field that emulates the data stored on a credit card and can be read by any point-of-sale terminal its held up against.
Last year, I reviewed Loop’s fob, and was actually quite impressed with how simple it was to use. The ChargeCase is basically the fob in a different form factor designed to fit around an iPhone 5 or 5s.
It connects to the iPhone through Bluetooth, instead of through the audio jack like the fob, but otherwise the principle is the same. Pressing a button on the side of case causes it to emit its magnetic field transferring your credit card data to the point of sale terminal, just as if you had swiped…
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