Apple did it first. They have launched a mobile payment system which allows users proceed with any kind of payment directly from their mobile device. Samsung has followed the path of progress and has tightened competition, by aiming to release a similar feature that will be available starting with next month. Samsung Wallet, their first effort driven towards the mobile payment system, ceased operations last June and it will soon be replaced by Samsung Pay, aimed for launch this September.
The tech giant has already involved the new service in a trial activity which began in South Korea last month. As far as we know by now, the service will come to Europe through an extended partnership with Mastercard.
Samsung’s mobile payment system is the direct competitor of Apple and will launch in the US branch as a new special feature for an exclusive batch of Samsung devices, including the recently announced Galaxy S6 edge+ and Galaxy Note 5. Most of premium phones planned for release this year will benefit from the new feature.
It will take a while before both Samsung and Apple will make you leave your wallet at home as the rival services require merchants to have newer payment equipment with wireless technology, also known as near-field communication, or more simply put, NFC. It’s clear that the markets are still unprepared for a payment revolution and it will take a long while before everything will be in its right place, with those stuffed wallets left aside, in a forgotten shelf. The fact that after Apple did it and the Samsung mobile payment system will soon roll out as well, a new demand will rise to the ears of merchants that will be somehow required to adapt to the new market rules.
The official release date for Samsung Pay is set for August 20, and it will debut in South Korea first, the home sweet home of the tech giant. The US public will have the chance to experiment with the system starting with September 28, with a test period starting on August 25. As far as we know from official statements, Samsung is planning to expand its service to markets in the UK, China and Spain.
Security is the greatest advantage Samsung brings to the table. You will be assigned a substitute card number, unique to the phone. The store will get the special number so that if the system gets hacked, the main card number will never be compromised. Moreover, the substitute number will be paired with a one-time code, generated by your own personal device. Hackers who will try to steal your possessions and use the service will need to make a proof of authenticity, as they must offer physical possession of your handset.
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