As reported on CNET by Lance Whitney on December 16, 2014 9:43 AM PST
http://www.cnet.com/news/samsung-reportedly-eyeing-rival-to-apple-pay/

"The idea would be to embed LoopPay's technology into a Samsung smartphone so that users could pay for items via either near-field communications OR LoopPay's own magnetic stripe-compatible technology..." "LoopPay's technology can tap on a standard credit card reader without requiring NFC. Bottom Line: A LoopPay-embedded Samsung smartphone would currently work at many more retailers than would an NFC-enabled iPhone."

I currently use Google Wallet, but the entire usage scenario has its own probs IMHO. You have to dig your phone out of wherever you've stashed it, unlock the screen, turn on NFC (I don't leave it running), start the app, enter your code, and make sure your phone is awake when ready to tap. How is this easier than pulling out your wallet and presenting a card? Now having to upgrade to the S6 to use this new functionality instead of working on my most awesome existing S5... *sigh*