Samsung has confirmed that their supposed launch of mobile payment gateway Samsung Pay this July will be moved to September instead. It will now probably be part of the next high-end device that the Korean OEM will release, which means it will be the Galaxy Note 5, if they stick to the schedule this time. This is bad news for the company as it will be a few months where they will lose ground against other more aggressive mobile payment systems.
A few months back in March, Samsung announced that they were going to go head to head against rivals Apple Pay and Google Wallet as they acquired LoopPay and created their own system. They initially said that it would be integrated into the then unlaunched new flagship Galaxy S6 and Galaxy S6 edge.
But that has come and gone, and now Executive Vice President Rhee In Jong has announced that this will be moved to September and that the system will now be built-in their next high-end device. It will also initially launch in the US and its native South Korea, but will eventually expand to other markets like Europe, China, Australia, and South America.
The success of this mobile payment system will also depend on how fast they can eventually bring this down to their lower-end devices, as of course, the number of users for the older, earlier smartphones will be significantly more than those who will own the new Galaxy Note by that time. Apple and Google are already ahead in the game, and so they would need to play catch-up and one way is to get as many users as possible to try out the service.
VIA: Bloomberg
