Monday, February 17, 2020

Samsung Pay sees repeat usage among US users


Samsung Pay is enjoying strong repeat usage in the US, the smartphone manufacturer said on Tuesday. 

According to Samsung, the service, which rivals other mobile payment services such as Apple Pay, has seen individual American users making eight purchases with it per year. 

The Samsung Pay service differentiates itself from competitors by allowing users to register payments against the magnetic stripe card readers that a number of retailers already use. Banks such as Visa, Mastercard and Chase have already signed up as partners. 

In contrast, Apple Pay requires retailers to install ‘near field communication‘ equipment in order to allow customers to utilise the service. In the past four weeks, three quarters of Samsung Pay transactions were made on magnet stripe readers, and only one quarter on NFC terminals. 

“Consumers who use Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card,” said Global Co-Ed Manager of Samsung Pay Thomas Ko. 

Samsung has not yet set a release date for Samsung Pay in the UK, though the company said that it will be coming in “the near future”. There has been speculation that it will be released alongside Samsung‘s next big devices, the Note 5 and the S6 Edge+.