Tag: samsung pay

Samsung smartwatch will support mobile payments

| June 10, 2015

Samsung plans to launch a new smartwatch later this year

Samsung is planning to launch a smartwatch during the second half of this year and the company has plans to give the device the ability to make mobile payments. The South Korean company has been playing a larger role in the mobile commerce space in recent years and has announced that it will launch its own mobile payments service this year. Samsung Pay is expected to launch in the coming months and may come pre-installed on the company’s new smartwatch.

Wearable devices could become powerful mobile payments tools

Smartwatches are beginning to gain more attention from consumers. These devices function in much the same way that smartphones do, but they can be worn rather than carried. Wearable devices have somewhat limited functionality, but they could become powerful tools in the mobile commerce space. Because smartwatches are worn on the wrist, they are more accessible and can make mobile payments somewhat more convenient for consumers.

Device will come equipped with NFC technology and, possibly, Samsung Pay

Mobile Payments - Support from SamsungThe smartwatch that Samsung intends to launch will make use of NFC technology to make mobile payments possible. This technology allows digital information to be transmitted over short distances. NFC has served as the backbone of the mobile commerce space for several years and is used in many mobile commerce platforms. Some organizations have begun to move away from NFC technology in order to make mobile payments more accessible to those without NFC-enabled devices, but this technology remains the prominent aspect of the mobile commerce world.

Samsung will have to fight to compete with other companies that have established a lead in the mobile commerce space

Samsung has said that it plans to release its new mobile payments service at some point in July, but there is no clear release date at this time. Samsung has not yet announced a release date for its new smartwhatch either. The company is falling somewhat behind its competitors when it comes to mobile payments, but it may manage to catch up if it can provide consumers with an enjoyable and convenient service.

Mobile commerce market continues to grow in the US

| June 5, 2015

Mobile commerce has become a powerful force in the US

The mobile commerce market is growing quickly throughout the world. The advent of mobile technology has had a profound impact on the commerce sector, changing the way that people shop for and purchase products. Mobile commerce is still a relatively new concept, but consumers have shown a great deal of favor for being able to purchase products with their smartphones, both online and off. According to BI Intelligence, the mobile commerce market is expected to swell throughout the United States in the coming years.

In-store mobile payments expected to reach $37 billion this year

BI Intelligence predicts that in-store mobile payments will reach $37 billion this year. This is lower than the organization’s previous forecast, largely due to the late launch of new mobile payment services, such as Samsung Pay and CurrentC. Despite the downward revision of this forecast, more consumers are beginning to participate in mobile commerce, especially in physical stores. Retailers are making it possible for people to purchase products with their mobile devices while in stores, rather than forcing these people to purchase products online.

More consumers are participating in mobile commerce

Mobile Commerce Growth USAAn estimated 8% of mobile consumers in the U.S. made a mobile payment at least once in 2014. BI Intelligence predicts that this will swell to 65% of mobile consumers by 2019. Many people are beginning to feel comfortable with the concept of mobile payments, and this comfort is allowing them to be more active in this sector. With new mobile payment services launching, a growing number of consumers are likely to enter into the sector.

Apple is leading the mobile payments space

Apple is having the most dramatic impact on the mobile payments space. The company launched its Apple Pay service last year, which has become extremely popular among consumers and retailers alike. Other companies have plans to launch their own payment services later this year, but will have to fight to catch up with Apple, as it has established a strong lead in the sector.