Possibility of Samsung Electronics to enter the US mobile payment market as opposed to Apple Pay

ByStanley Young

Apple's "Apple Pay"Google's"Google Wallet"Mobile payment services using NFC have been introduced in the United States, but there has been the possibility that Samsung Electronics may start full-fledged mobile payment service in accordance with both.

Samsung in Talks With LoopPay For Wireless Phone Payments | Re / code
http://recode.net/2014/12/16/samsung-in-talks-to-launch-apple-pay-competitor/


According to Re / code on IT related news site, Samsung Electronics is aiming for full-fledged entry into American mobile payment market which is crowded with Apple Pay and Google Wallet etc.

Samsung Electronics, Visa's mobile payment system "Visa payWaveSpecially equipped with "GALAXY S III"Was held in 2012Offer to London Olympic participating playersIn addition, in September 2014 to operate online payment systemChina Unionpay(Union Pay) in cooperation withMobile payment service started in ChinaWe have shown aggressive attitude to the introduction of mobile payment services, including doing it.

In starting mobile payment in the US, Samsung Electronics is offering mobile payment applications to Apple and Google "LoopPayWe are seeking a partnership with. However, there is information that this collaboration is "possible to be broken", but also information that seems to have already been formed as "it is installed in the prototype of the next Samsung smartphone" has come out, At the moment it is unknown which one will eventually roll.


Apple Pay incorporates fingerprint authentication from the device into the personal authentication process with mobile payment. "Samsung Electronics released in 2014"GALAXY S5"Is equipped with a fingerprint authentication sensor and it seems that it will incorporate fingerprint authentication in the personal authentication process like Apple Pay.

However, LoopPay, which registers credit cards in the application and sends magnetic data from the smartphone to the magnetic card reading system of the card payment terminal for payment, does not use NFC like Apple Pay or Google Wallet. Since retailers do not need to upgrade card payment terminals to NFC compliant, if Samsung Electronics makes a offer with LoopPay, mobile payment available stores will be more than Apple Pay and Google Wallet. Indeed, there are over 10 million available stores in LoopPay in the US, which is likely to be a boost to Samsung Electronics.


If the partnership with LoopPay is advanced, Samsung Electronics looks advantageous in the number of available stores,SunTrustYaBarclaycardsuch asMore than 10 major banks introduced Apple PayOr,Google Wallet for iOS starts handling fingerprint authentication Touch IDWe are doing expansion of services by each company, such as doing it, and I do not know what will happen.

In addition, although Re / code asked for comment by Samsung Electronics spokesperson and LoopPay's Will Grayin CEO, both refused to comment.