While mobile wallets did not get to their full potential this year, 2016 is another year for the different brands to try and get there. Samsung Pay is one of those and it wants to expand even more by adding more devices that will get mobile wallet support and also adding online shopping options, at least for US residents. They of course want to get ahead of their competitors like Apple Pay and Android Pay, who are still having a hard time getting people to actually use their digital payment systems.
One of the things that has limited Samsung Pay’s growth is the fact that it is only available for these devices: Galaxy Note 5, the Galaxy S6 Edge, Galaxy S6, and S6 Edge Plus. According to Thomas Ko, global co-general manager of Samsung Pay, they will be adding some of the lower-end and maybe older models from the OEM to support the mobile wallet system. They will also be expanding to other countries as well, although they did not specify which ones or even what region.
Another thing that Samsung Pay users will be able to do soon, if you live in the US that is, is to be able to use your digital wallet for online shopping. This feature will be taking on established names like Paypal and new player Visa Checkout. There are no details yet as to how it will work exactly, but expect it to not be that complicated, especially if they want to attract new users.
Samsung Pay has an advantage over Apple Pay and Android Pay, as their tech can be used both with old and new credit card terminals, just by “waving” their supported Samsung smartphones. The other two mobile payment gateways require retailers to actually install new compatible equipment. For now, Samsung Pay is the most widely accepted mobile wallet in the US.
VIA: Reuters
