CardWeb.com’s CardData database of Company Profiles today features LoopPay.
In 2012, LoopPay co-founders Will Graylin and George Wallner contemplated how to create a mobile payment experience for all consumers that gave them control, was fast, easy to use, and worked virtually everywhere.
The fundamental idea was to take existing credit/debit card magnetic stripe readers and turn them into contactless receivers of magnetic signals from mobile devices. LoopPay was born with the invention of Magnetic Secure Transmission (MST). This patented technology, along with the LoopPay app, became the most accepted mobile payment solution worldwide.
LoopPay inspires consumers to transition to a digital wallet and gain benefit in ease of use, security and speed of payment. LoopPay’s MST technology works at 90% of merchant locations in the U.S. and tens of millions of merchant terminals around the world so consumers can leave their wallets at home. At the same time, LoopPay aims to enhance and leverage the relationship between the credit card issuer, merchant and customer in both the physical and virtual world.
Will Graylin Chief Executive Officer and Founder
Will has started five companies since obtaining two Masters degrees from MIT, LoopPay is his third mobile payment startup, the prior two were Way Systems (sold to Verifone), and ROAM Data (sold to Ingenico), both were leading mobile POS & mobile payment solutions providers.
ROAM became the leading supplier of smartphone POS solutions and mobile readers with millions of units shipped worldwide.
Will’s companies have won numerous innovation awards in the payments industry. Will has been recognized as a Mover & Shaker in the industry and he is regularly invited to speak about mobile payments.
Will served as a US Navy Nuclear Submarine Officer for nearly 6 years, the first naturalized China born immigrant to serve in this program.
George Wallner Chief Technologist and Founder
George Wallner is a payment industry pioneer and innovator. He has been in the payment industry for more than three decades, and was the founder and CEO of Hypercom.
Mr. Wallner launched the first modern mag stripe Point of Sale (POS) terminals and POS Network equipment which still support the electronic payment industry today.
Mr. Wallner took Hypercom from zero to IPO and became the leading POS provider worldwide before his retirement and Hypercom’s acquisition by VeriFone. Mr. Wallner was also an active board member and investor in Mr. Graylin’s two previous mobile payments companies ROAM and WAY.
George invented the Magnetic Secure Transmission (MST) technology and has taken on his first operating role since Hypercom, to help make LoopPay a leader in mobile commerce.