It is not yet clear if Samsung has reached a deal with the startup, Burlington, Mass.-based LoopPay. One source said the deal could still fall apart. A prototype of the payments system working on a Samsung phone has been created, the other source said.
The technology would allow people with certain Samsung phones to pay in the vast majority of brick-and-mortar stores by waving their phones instead of swiping with a credit card or cash. Samsung’s new smartphone is expected to be announced in the first half of 2015.