The fact that after Apple did it and the Samsung mobile payment system will soon roll out as well, a new demand will rise to the ears of merchants that will be somehow required to adapt to the new market rules.
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It’s clear that the success of Samsung’s latest smartphone and phablet will be a crucial test for Lee Jae-yong, the heir to Korea’s largest conglomerate and vice chairman of Samsung Electronics. It will debut in the U.S. on September 28.
The service comes online in South Korea on 20 August and in the US on 28 September.
“There are groups of people who stick with what they like, whether that’s Samsung or Apple, and then there are there are people in the middle that you can kind of sway, a bit like the floating voter, and that’s who we’re all fighting for”, Griffiths told the Guardian, as Samsung unveiled its new Galaxy S6 Edge+ and Note 5 devices.
The situation here is very similar to that in the United States where 20 per cent of iOS users have switched to Android and 16 per cent Android users have moved over to iOS in the last two years.
Not necessarily – the existing Samsung Galaxy S6 or Galaxy S6 Edge will be able to run the system once the software is added. While Apple Pay was announced last year, with a number of partners.
CEO Shin Jong-kyun delivered a strong keynote, although some of us wished he would stop trying to be amusing – or that his scriptwriters would stop – and his colleagues at Samsung’s US offices did their best to stoke enthusiasm.
Samsung Pay transactions are protected by Samsung Knox technology, fingerprint verification and digital tokenization.
Samsung Pay, the much-anticipate mobile wallet, is already receiving tremendous support from big names in the debit and credit card industries. “Both of those schemes require updated QRC code scanning capability at the point of sale”. It is likely it will also feature on the Samsung Gear A smartwatch.
Samsung and Visa will be working together after the launch to protect card data through an advance tokenization system on the mobile platform.
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While global head of Samsung Pay, Injong Rhee, described the new system as “the future of mobile payments” there have been some reservations about the use of contactless mobile banking. “It is easy, safe, and most importantly, available virtually anywhere you can swipe a card, in most cases without new costs for merchants, from day one“.
