WSVN — We’re always looking for ways to save money, but tonight, it’s all about spending your money a little easier. Lynn Martinez shows us how one local inventor is taking spending mobile in Dollars and Sense.
Spending money is a necessity, so why not make it easier with technology called LoopPay?
George Wallner: “The convenience is significant because instead of carrying a fat, big leather wallet, I only carry this.”
Tired of lugging around that big wallet or purse? Wallner’s LoopPay creation is as easy to use as whipping out that phone.
George Wallner: “Techies have been waiting for this for years.”
This is your new wallet. You load all of your cards: credit, debit, reward cards and even your driver’s license into the LoopPay app on your smart phone.
George Wallner: “You open up with your PIN, and then all the cards that you have are in your app.”
So is LoopPay different from other pay-with-your-phone programs?
George Wallner: “What Loop has invented is a mobile payment technology that uses the existing equipment that the retailers have.”
Unlike other mobile-pay technology, with LoopPay, you don’t have to wait around for your favorite store or restaurant to install new equipment.
The technology is already being swiped around the world.
George Wallner: “I was traveling yesterday. I paid for the taxi to go to the airport to fly to Miami, I paid for lunch. The night before, I paid for dinner with it, just like my normal card.”
The best part: all of that technology was created right here in South Florida in George’s workshop — in his backyard.
Cool, convenient, local, but is it secure?
George Wallner: “It’s very safe because, first off, the card is locked. The data we transmit from the card is scrambled in a unique way that makes it not suitable for copying.”
So load your cards and swipe away.
Just last week, Samsung announced they will be buying LoopPay, and it will be incorporated into future phones.
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