While Samsung Pay is still trying to establish itself in the midst of stiff competition from Android Pay and Apple Pay, rumors of a secondary product are already making the rounds. Sources are saying the OEM will be launching a new app called Samsung Mini Pay so that non-Samsung users will be able to use it for their online transactions. This is a result of a survey showing that Samsung Pay itself is used more for physical transactions even though it can be used online as well.
The sources are saying that the move to create a Samsung Mini Pay is to “strengthen online payments” although how it will do that exactly isn’t stated yet in the leaked news items. They are saying however that some companies have already committed to supporting this new product, including Hana Card and Lotte Card, two of the biggest cards in South Korea.
Less than 20% of the payments made through Samsung Pay are online, even though it can actually be used both offline and online. One of the reasons is that the process is a bit more complicated than the usual credit card transactions. The Samsung Pay Mini will reportedly be simpler and will also allow other Android users, not just those with compatible Samsung devices, to be able to use the mobile payment gateway, at least online.
Even though there are no details yet, the rumored app will use fingerprint authentication for those with biometric features. But for those without, then a password/ID combo will supposedly be used. We don’t know yet of course how this will differ from just the straight up credit card payments and if it will even make it out of South Korea.
VIA: SlashGear
