The current breadth of mobile payment systems is still fairly limited. We’ve focused in-depth pieces on the three major efforts from Android, Apple and Samsung so far. In regards to the chaebol of the group, it says that Samsung Pay has been doing well for them, especially in its home country, and expansion is not a question of if, but how and when.
Rival chaebol LG hopes that the wild west is still open enough for one more payments solution as it plans on launching something that could appear in both Korea and the US as early as next month.
The company is signing [...]
While we mention the spread of Samsung Pay to different devices, Samsung or not, we have to have the territory to use the service in. So far, Samsung has reached deals with banking, retail and cellular network partners in South Korea and the US. We’ve been promised a further push into other countries like the UK, Spain and China during Samsung’s August event.
Well, look at that: SamMobile is reporting that we’ll see those three countries receive Samsung Pay in Q1 of next year.
Same device rules are in play — the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+ [...]
Samsung Pay is doing well for itself across Korea. New figures show that a million subscribers in South Korea have made over ₩100B in transactions, 75 percent of which were made with Magnetic Secure Technology. But Samsung’s Injong Rhee wasn’t just interested in giving out digits. Instead, he was focused on expanding the chaebol’s technology reach on multiple fronts in an extensive interview.
Rhee says that Samsung Pay — with its MST — is mainly up against not other mobile payment systems, but with plastic.
More and more, all the plastic cards — [...]