Samsung Pay was launched in 2015 and even though it has largely been used in South Korea, the company is now looking at spreading its wings to the likes of Russia, Malaysia as well as Thailand.
In case you didn’t know, Samsung Pay is a mobile payments system that competes directly with Apple Pay and Android Pay. According to the tech giant, the service will have reached up to 10 countries by the close of 2016.
Just recently, Samsung announced that its payment service will be working closely with MasterPass, which is MasterCard’s digital wallet, in a bid to help spread its services to other parts of the world where the latter is already available. But this deal will start rolling out starting early 2017. At the moment, MasterPass is already in use in more than 33 countries across the globe, which will present Samsung Pay with a good foundation over which to offer its services.
In South Korea alone, where the use of Samsung Pay has been vast, the company says that it has managed to carry out transactions worth more than $2 billion in payments. This just shows you how this market is huge, hence the desire to spread it to other regions.
Samsung Pay can only be used on Samsung devices and with it, you only need to pre-loaded your credit card details and when shopping, all you can do is tap the phone on a point-of-sale device to complete the purchase. If anything, this is the same thing Android Pay and Apple Pay offer.
In the announcement, Samsung also said that it will be adding a feature that will let users checkout using any device and not just their mobile phones. Apparently, Apple Pay has already done this, moving the service to its web platform for those on Macs to also take advantage of it. Soon you will also be able to make in-app payments as well as access location-based deals.
Starting this November, those using Samsung Pay from the US will be able to see a new “deals” feature in the app. This feature will offer them discounts and coupons with respect to nearby stores, something that many should welcome.
Moving on, Google is also making its own strides in this mobile payment market. The company is looking at partnerships with MasterCard and VISA in order to allow users of Android Pay make payments on numerous sites as long as MasterPass or VISA Checkout is supported. In addition, the company also wants users to authenticate their Android Pay transactions from any device of their choice. Android Pay is already available in the U.S., UK, Singapore as well as Australia.
While Samsung Pay and Android Pay are busy making their own updates, Apple isn’t lagging behind either. Just recently, the iPhone maker has made Apple Pay available in Japan, making it the 12th country to make the cut. Locals here can use the service at points that accept QuicPay and Suica prepaid money card, which is common in the transport sector.