Samsung Pay Mini is reportedly in the pipeline with online payment support for Android and iOS
While Samsung Pay undoubtedly makes offline shopping at tens of thousands of retailers across Korea, the US and China fast, convenient and secure… with the use of a handful of Galaxy phones, the digital wallet service would benefit greatly from an expansion to not only other countries, but also more devices, including some manufactured by rival companies.
Android Pay of course has the upper hand in that regard, thanks to universal Marshmallow compatibility, but if the latest report relayed by ET News based on “industry” chatter is to be trusted, an extension of Samsung’s currently limited mobile payment app could debut as early as next month.
This new transaction resource is purportedly dubbed Samsung Pay Mini, at least for the time being, and aims to facilitate quick and safe online payments on both iPhones and any Android handheld running OS version 6.0, aka Marshmallow.
Unfortunately, the cross-platform Samsung Pay Mini app is tipped to forgo its precursor’s physical retail store functionality and thus Magnetic Secure Transmission technology as well. Instead, it’ll focus squarely on virtually storing your credit and debit cards on your phones, and then simplifying the often cumbersome process of buying stuff on the web.
If rumors pan out, authorization will require either scanning your fingerprint, where possible and desired, or entering a traditional password. The initial rollout might be contained to Korea, with other markets likely following suit by the end of the year if all goes according to plan.
Although it doesn’t sound like a death blow per se to Apple Pay, at least not yet, Samsung Pay and Samsung Pay Mini may soon become the champions of a fast-growing, massively lucrative tech segment.
Source: ET News