Technology content trusted in North America and globally since 1999
8,521 Reviews & Articles | 65,846 News Posts

Samsung Pay could take off compared to other mobile payment efforts

Could Samsung Pay end up topping Apple Pay?

By Michael Hatamoto from Jun 27, 2015 @ 5:30 CDT

Samsung Pay hasn't launched yet, but there is a significant possibility the mobile payment platform could have a major advantage by using technology developed from LoopPay.

samsung-pay-take-compared-mobile-payment-efforts_01

LoopPay, which Samsung acquired, uses Magnetic Secure Transmission (MST) technology that will allow any Samsung smartphone to make a payment on current credit card readers. In addition, you can simply use a digital barcode - which can be scanned at checkout - as a method to make a payment.

Even if most of you haven't experimented with mobile payments just yet, the industry as a whole is expected to reach $37 billion this year. Of course, that number is half what Business Insider expected - and it won't magically become easier to convince users to try a non-traditional payment.

Both Apple Pay and Android Pay force interested retailers to upgrade their point-of-sale machines so they accept near-field communication payments. While some retailers are making the change, others haven't been as fast to make changes.

NEWS SOURCES:Businessinsider.com, Blog.kaspersky.com

Related Tags

PRICING: You can find products similar to this one for sale below.

USUnited States: Find other tech and computer products like this over at Amazon.com

UKUnited Kingdom: Find other tech and computer products like this over at Amazon.co.uk

AUAustralia: Find other tech and computer products like this over at Amazon.com.au

CACanada: Find other tech and computer products like this over at Amazon.ca

DEDeutschland: Finde andere Technik- und Computerprodukte wie dieses auf Amazon.de