Phone

Samsung’s Apple Pay competitor in the works

Apple Pay could take a long time to get to developing countries where its latest crop of smartphones, the iPhone 6 and the 6 Plus, aren’t very popular. And that’s exactly what Samsung would want to exploit with a possible rival payment system. According to reports, an Apple Pay competitor from Samsung is already in the works, with a launch allegedly due for 2015. As is with Apple Pay, this technology would allow users of Samsung smartphones to use their smartphone to make payments — simply by waving it in front of appropriate hardware. Samsung has already discussed the idea with a payments startup, LoopPay, according to Re/code.

The report also cites a source that points at a prototype that’s already out for testing. Samsung has a strong presence in not only developed markets, but also in the developing ones; if the deal does go through, it could mean that a lot of the users in these developing markets would make use of the wireless (and presumably contact-less) payments system instead of traditional credit/debit cards.

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ProdByEchelon
ProdByEchelon

If it only works in the US like most of these services, it won’t take off

pizzaman
pizzaman

How can a knwoledgeable journalist write an article about this without mentioning the paypal integration on the current samsung flagships? Makes me really doubt the quality of the articles here.

ProdByEchelon
ProdByEchelon

You need to chill