Samsung Could Include Apple Pay Competitor in New Galaxy
Feb. 5, 2015
Rumors that began recently regarding South Korean device manufacturer Samsung launching a competitor to Apple Pay in its phones have picked up steam. Multiple reports say the company will include NFC payment capability in the Galaxy S6 when it is unveiled next month in Barcelona. Samsung has partnered with a Boston-based mobile payment technology provider, however, that may give it an edge.
Rumors first began circulating in December that Samsung would partner with Loop Pay to integrate payments into its new smartphone. A Korean news outlet spoke with officials from Samsung who indicated that was the case. Loop Pay could provide Samsung with an advantage because its technology enables users to make contactless payments with their phone at a traditional mag stripe terminal. One of the barriers for Apple Pay continues to be the wait for merchants to convert their POS systems to accept NFC transactions.