Samsung Launches Mobile Payments in U.S.
Sept. 28, 2015
As Samsung Pay launches in the U.S. today, the smartphone manufacturer said consumers in South Korea have made more than 1.5 million transactions worth more than $30 million since its debut there one month ago. Samsung Pay enables users to pay at the POS by tapping their device at the payment terminal. Samsung hopes its version of mobile payments, because it works at traditional swipe terminals in addition to new NFC-enabled terminals, will overtake Apple Pay since many merchants have not yet upgraded their POS technology. Unlike Apple Pay, however, Samsung Pay will not be available for use as an in-app payment method, though the company said that feature is coming. In South Korea, the company said it has added a Samsung Card to the wallet that can be used to make online payments.
“Although the details on Samsung Pay usage are constantly being updated, the response we’ve received so far has been beyond our expectations,” said Injong Rhee, executive vice president of Samsung Electronics and global head of Samsung Pay. “We knew Samsung Pay would be a game-changer in the mobile payments industry and now with the user data, we are seeing the greater impact it is having on consumer behavior and on the lifestyle of our customers.”
Samsung launches in the U.S. today on Galaxy S6, S6 edge, S6 edge+ and Note5 devices. The company said it plans launches in the UK and China soon.