Samsung Pay to be available on less expensive Samsung devices

Samsung Pay, the new mobile payments service from Samsung, is expected to launch in the United States next year. The service will not only be available to those with the latest Samsung devices, however, as the company intends to make it available for older, less expensive devices when it is launched. Samsung Pay is also expected to begin accepting online payments when it is launched in the U.S., which will put the service in direct competition with companies like PayPal.

Samsung expanding the availability of mobile payments service may be a boon for consumers

Samsung has not yet offered specific information concerning the availability of Samsung Pay on less expensive mobile devices, but this is expected to make the service much more attractive to consumers. While the Samsung Galaxy S6 and Note 5 have become quite popular among consumers, many still prefer inexpensive devices as they satisfy their needs without being coupled with overwhelming costs. Many of these devices lack NFC technology, however, which has become a very powerful mobile payments tool. Without NFC technology, many consumers cannot participate in mobile commerce, but this is an issue that Samsung is looking to address.

Samsung to bring new service to other markets throughout the world

The new mobile payments service will not be restricted to the United States, of course. Samsung plans to launch the service in several other countries, having already completed testing of the service in its native South Korea. Several countries have begun experiencing strong growth in the mobile payments sector, with consumers beginning to favor their smartphones to do their shopping and send money to one another.

Digital wallets are becoming more popular among consumers

Samsung Pay is designed to function as a digital wallet, which will be able to store information from consumers and merchants alike. Storing financial information can expedite the checkout process, making it easier for consumers to purchase products in physical stores. The mobile payments service will also feature security features that are meant to protect consumer information and keep them free from exploitation.

Micromax smartphone manufacturer subsidiary, Yu Televentures, has announced its intentions.

Yu Televentures recently announced that it is coming close to reaching an agreement with TranServ, which will make it possible for the companies to jointly produce a mobile wallet that will be available on the latest Micromax smartphone, which will be called the Yutopia.

This agreement will be the first of its kind for the subsidiary of the India based smartphone manufacturer’s subsidiary.

A recent press release from Yu Televentures explained that it will be releasing its mobile wallet as a component of its Around Yu suite. Around You is a software suite that comes as a part of the original bundle that is already installed into the Yutopia smartphone. This ensures that the mobile payments app will be available to users who purchase the smartphone without requiring them to have to download it.

This could help to boost the use of the mobile wallet among the users of that model of the device.

According to Micromax co-founder, Rahul Sharma, “All these services will be deeply integrated and stitched with one payments system.” The goal is to make it as convenient, seamless and simple for device owners to use as possible. This will allow them to use it as a natural part of their device use, instead of being an awkward or clunky add-on that requires them to take too much action in order to take advantage of what it has to offer.

A statement from Yu Televentures pointed out that both the mobile wallet app that is being developed, and the mobile payments system upon which it will stand will assist in driving other apps within the Around Yu suite. There are several within the suite that have the potential to work quite smoothly with the digital transactions, such as a food ordering application, a mobile travel app that provides price comparisons, as well as a price comparison retail app that allows users to find the best price for the products and services they’re seeking. By incorporating the wallet app, when the user finds what he or she wants, it will be easier to simply purchase it digitally.