Samsung Pay launch delayed till September.
Samsung Group, the popular smartphone manufacturer has reportedly delayed the launch of its Samsung Pay - mobile payment service till September, FY15. This has been revealed during the investor call that took place recently, reports Bloomberg.
Previously, the company had plans to launch its Samsung Pay service this summer. It recently launched its Samsung Galaxy S6 and S6 Edge smartphones, which were handpicked for this service. However, sources claim that the next Samsung Galaxy Note ‘phablet’ will also be getting this service.
The corporate giant’s new mobile payment service is said to be similar in mechanism to the current offerings by Apple Inc. as Apple Pay, and Google’s Android Pay service. The trend to have a portable bank is now extremely popular and Samsung has made a good decision to enter this industry. Hence, these services provide a great platform to make transaction through smartphone, making retail on stores relatively convenient.
According to the company, Samsung Pay, along with NFC-based services, will also cater and support the magnetic stripe card reader making it an added facility.
Apart from launching this mobile payment service in the United States market and their home ground, South Korea, Samsung also wishes to bring this service in other markets, including China, Europe, Australia, and South America in this year.
The tech behemoth wishes to give a tough time to Google’s Android Pay and Apple Pay. Google had been stumbling with its Wallet service since a while now and thus came up with Android Pay. The mobile payment service industry has immense growth potential, but this does not really mean that the industry is an easy catch. All the tech giants have entered this market and are trying to offer the best possible services, thus the competition is relatively high.
Apple particularly wishes to boost Apple Pay and added several other banks to its portfolio for the same reason. Samsung so far has not revealed much information regarding its service but more news is expected to buzz regarding the company’s service in the times to come. Analysts keep a watch on the Korean company and eagerly wait to find out what banks will actually be in the list.
Concisely, the Korean corporation is on the right track, since launching a new mobile payment service will help them to increase sales of their Samsung Galaxy flagship smartphones. Moreover, it will also open a new platform for them to boost revenues and allow them to compete with the industry giants.
Samsung Group, the popular smartphone manufacturer has reportedly delayed the launch of its Samsung Pay - mobile payment service till September, FY15. This has been revealed during the investor call that took place recently, reports Bloomberg.
Previously, the company had plans to launch its Samsung Pay service this summer. It recently launched its Samsung Galaxy S6 and S6 Edge smartphones, which were handpicked for this service. However, sources claim that the next Samsung Galaxy Note ‘phablet’ will also be getting this service.
The corporate giant’s new mobile payment service is said to be similar in mechanism to the current offerings by Apple Inc. as Apple Pay, and Google’s Android Pay service. The trend to have a portable bank is now extremely popular and Samsung has made a good decision to enter this industry. Hence, these services provide a great platform to make transaction through smartphone, making retail on stores relatively convenient.
According to the company, Samsung Pay, along with NFC-based services, will also cater and support the magnetic stripe card reader making it an added facility.
Apart from launching this mobile payment service in the United States market and their home ground, South Korea, Samsung also wishes to bring this service in other markets, including China, Europe, Australia, and South America in this year.
The tech behemoth wishes to give a tough time to Google’s Android Pay and Apple Pay. Google had been stumbling with its Wallet service since a while now and thus came up with Android Pay. The mobile payment service industry has immense growth potential, but this does not really mean that the industry is an easy catch. All the tech giants have entered this market and are trying to offer the best possible services, thus the competition is relatively high.
Apple particularly wishes to boost Apple Pay and added several other banks to its portfolio for the same reason. Samsung so far has not revealed much information regarding its service but more news is expected to buzz regarding the company’s service in the times to come. Analysts keep a watch on the Korean company and eagerly wait to find out what banks will actually be in the list.
Concisely, the Korean corporation is on the right track, since launching a new mobile payment service will help them to increase sales of their Samsung Galaxy flagship smartphones. Moreover, it will also open a new platform for them to boost revenues and allow them to compete with the industry giants.