Tag: Android Pay

Samsung begins testing its new mobile payments service

| September 3, 2015

Invite-only beta even launched by Samsung

Samsung has opened beta testing for its new mobile payments solution, Saumsung pay. The invite-only beta has opened approximately one month before the service is set to launch to the public. Like other mobile payments solutions, Samsung pay will allow users to make payments using nothing more than their mobile devices. These payments can be made at physical stores and online, with many retailers already having shown support for the service.

Samsung Pay is equipped with technology developed by LoopPay

Samsung Pay is based on technology developed by LoopPay, which Samsung had acquired earlier this year. The technology allows retailers to accept mobile transactions without having to purchase additional hardware. Other mobile payments service require retailers to use hardware that is able to decipher the information used by these services. This is because most mobile payments services make use of NFC technology, which requires complimentary hardware in order to be used effectively.

Samsung will face competition from both Apple and Google when it comes to mobile payments

samsung - mobile payments testingWhile Samsung will face major challenges in the mobile payments space, it believes that it will be able to compete effectively within the growing market. Samsung is facing down competition from Apple, which has already launched its own mobile payments service and has plans to expand the service in the coming months. Google is also expected to join the fray soon with the launch of its own payments service, called Android Pay.

Qualifying for the beta event requires consumers have Bank of America or US Bank cards

In order to be eligible for the beta test of Samsung Pay, consumers will have to have a Bank of America or US Bank card. While the service will support other payment cards at launch, only cardholders from these two banks will be eligible for a beta invite. Consumers will also have to have a Galaxy S6 or Galaxy S6 Edge device from AT&T, T-Mobile, Sprint, or U.S. Cellular. Those without these devices will not be able to make use of Samsung Pay during the beta testing period.

Google’s mobile payments service could launch in a matter of days

| August 27, 2015

Android Pay may be on the way sooner than expected

Google may have plans to launch its new mobile payments service, Android Pay, sooner than expected. According to a notice sent to some of Android Pay’s retail partners, such as McDonald’s, employees are being trained to understand what mobile payments are and how to assist customers making such transactions. These notices suggest that Android Pay will actually become available on August 26 or very shortly thereafter, but there is no telling whether or not Google’s new service will find success.

Google has had trouble with mobile payments in the past

Google already has a position in the mobile payments market, having launched its first platform, Google Wallet, some years ago. The Wallet platform experienced a turbulent launch, with some security issues leaving consumers wary of the concept of mobile transactions. Google has been working to improve the Wallet service and it has begun to generate momentum among consumers, but the company may be showing more priority for Android Pay in the future. Google does not have plans to kill its Wallet service, however, and both services are likely to work alongside one another.

Android Pay already has significant support

Google Mobile PaymentsAndroid Pay already has significant support in many parts of the United States. Once launched, the service will be accepted in more than 700,000 stores throughout the country. Transactions and financial information will be protected by biometric technology, with a user’s fingerprint serving as the key that unlocks the mobile payments service.

Google will have to fight Apple and Samsung in order to find success in the mobile payments field

Google will be competing directly with both Samsung and Apple, both of whom have their own mobile payments services. Apple has, perhaps, established a more formidable foothold in the market, as its payment service was launched last year and has already attracted significant consumer support. Apple plans to launch its service in the United Kingdom in the near future. Samsung is currently testing its own payment service in South Korea, with plans to launch the service at some point later this year.