Since then, the company claims that more than $30 million (£19.6 million) has been spent in Samsung Pay transactions. With this new feature, you can swipe up from the fingerprint scanner to the screen to activate Samsung Pay when in the Lock screen, the Home screen, or when the screen is off. Fingerprints are required to verify transactions. The pioneers like Apple Inc.
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Yet it may be Samsung’s partner, Google (NASDAQ:GOOG) (NASDAQ:GOOGL), that determines whether the device succeeds or fails. Samsung added it will also reach Britain, Spain and China soon.
The one major advantage Samsung Pay has over Apple Pay is Magnetic Secure Transmission technology, which enables it to work with traditional card readers as well as modern NFC terminals. But now the retailers are slowly moving to the next generation NFC technology.
The mobile payment service will launch in the USA later this month (28 September) where it will be available on Galaxy S6, S6 edge, S6 edge+ and Note5 devices.
But Samsung claims its version is different. Samsung bought mobile payment service provider LoopPay Inc. earlier this year to fulfill its dream to foray into digital payment world.
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Samsung also revealed that there are approximately 36 percent active users in Samsung Pay’s first month and out of those some 10 percent were using the service every single day. Replicating that success in the U.S., where it will be up against Android Pay and Apple Pay, might be more hard. So firstly Samsung will have to attract customers to adopt its innovations.
