Tag: samsung pay

Samsung’s mobile payments service to launch in the US soon

| January 6, 2016

Samsung Pay is set to come to the United States in the coming months

Samsung Pay, Samsung’s new mobile payments service, is expected to launch in the United States in the coming months. The service was first launched in South Korea in 2015, where Samsung has been testing the service and fine tuning its features. Samsung Pay is set to compete with other mobile payments services in the U.S., particularly those coming from Google and Apple. The company is confident, however, that the service will appeal to U.S. consumers, especially as new features are being introduced.

New mobile payments service will be available on a variety of mobile devices

Recently, Samsung announced that its mobile payments service will be available on non-flagship devices, which are not equipped with NFC technology. NFC has become the backbone of mobile commerce, allowing digital information to be transmitted over short distances. In the past, the lack of NFC-enabled mobile devices made it difficult for consumers to make mobile payments, but device makers have brought numerous devices equipped with NFC technology to the global market, expanding the reach of mobile payments.

Samsung Pay will support Magnetic Secure Transmission technology

Mobile Payments - Samsung Pay to launch in USSamsung Pay is, of course, not a copy of other payment services. The service features support of Magnetic Secure Transmission, which is why consumers do not need NFC-enabled devices to make use of it. This technology allows Samsung Pay to work in a way similar to existing debit and credit cards. Samsung believes that this feature can be expanded to make mobile payments more convenient for consumers throughout the United States.

Security will continue to be a challenge for those involved in mobile payments

One of the challenges Samsung will have to overcome to find success in the U.S. is security. Many consumers have shown caution regarding mobile payments because of security risks, as they fear that their financial information may be exploited by malicious parties. Samsung, and other companies, have been working to address security issues, particularly through the use of biometric technology, which leverages biological information, such as a fingerprint, to secure consumer information.

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.