Tag: samsung galaxy s6

Samsung’s mobile payments service to launch in US next year, with new features

| December 31, 2015

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

Samsung Mobile PaymentsThe 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.

Visa brings more security to Samsung’s mobile payments platform

| March 4, 2015

Visa and Samsung come together to make mobile transactions more secure

Visa has announced that it will be supporting mobile payments on the newly unveiled Samsung Galaxy S6. Samsung revealed the new iteration of its flagship smartphone over the weekend. The device will have several upgraded features over its predecessors, but will also support Samsung Pay, a new mobile payments service that has been devised by Samsung. The new payment service is expected to officially launch in the summer of this year, and will support technology developed by Visa.

Visa Token Service will be used on Samsung Pay

Visa’s Token Service will be supported by Samsung Pay. This service involves the tokenization of consumers information when they make mobile payments. Financial information is converted into digital tokens, which can be used to authenticate a transaction. These tokens each feature a unique, 16-digit number and are created for specific payment environments. For example, tokens generated for the Samsung Pay platform can only be used on that specific platform and no other.

Samsung makes its first official entrance into the mobile payments field

Mobile Payments Security - VisaSamsung Pay represents Samsung’s first official step into the mobile payments field. The company has supported mobile commerce for some time, incorporating NFC technology into its mobile devices. This technology makes up the majority of the mobile payments infrastructure, and Samsung was one of the companies to make NFC-enabled devices more available to consumers throughout the world. Samsung will have to compete with other large companies that have established a strong position in the mobile commerce space.

Visa will help make mobile commerce more secure for consumers through the use of digital tokens

Visa’s support of Samsung Pay may help make the new mobile payments service wildly popular. The use of digital tokens will make Samsung Pay quite secure, when compared to other payment services. Mobile transactions can be made more secure through the use of biometric technology, as well, but tokenization has received more support from Samsung with its latest mobile device. Samsung Pay will be able to be used online and in physical stores that support mobile payments.