With "Wireless Magnetic Communication" technology and wide credit card support, LG Pay could be a fierce domestic Samsung Pay rival starting June.
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India is the latest and possibly most important market yet to fully support Samsung Pay, with both NFC and MST tech in tow.
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Dreaming of using Samsung Pay on a truly affordable Galaxy phone, even without a fingerprint sensor in tow? Just wait a little while longer.
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Today's another big day for the digital wallet market, as Android Pay, Apple Pay and Samsung Pay expand to Belgium, Ireland and India respectively.
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Both Samsung Pay and Apple Pay continue to grow at a remarkable pace, stateside, across Asia and many other regions.
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Apple Pay and Samsung Pay continue to fight from a distance for digital wallet world domination, launching soon in Taiwan and India respectively.
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While Samsung Pay rapidly followed up its Cupertino-designed arch-rival in the world’s largest smartphone market last spring, the Korea-based Android device champion wasn’t able to keep up with Apple Pay’s remarkable local expansion rate.
The latest wave of Chinese banks supporting the top NFC-only digital wallet service includes official backing from 14 financial institutions.
Bank of HeBei, ChengDu Rural Commercial Bank, China Minsheng Banking Corporation, Zheshang Bank, Chongqing Rural Commercial Bank, Fujian Rural Credit Union, HSBC, LangFang Bank, Shanghai Huarui Bank, Shanxi, Rural Credit Cooperatives Union, WeBank, Xiamen International Bank, YellowRiver and Yinzhou Bank today join a catalog previously consisting of over 40 big and small money-dealing corporations in China with an eye to the future of contactless, paperless payments.
In contrast, a measly nine Chinese banks threw their weight behind Samsung Pay off the bat, with so far empty promises of many more partners eventually added to the comparatively short list.
Meanwhile, on US shores, Apple Pay also continues on a certain, gradual path to literal omnipresence by spreading its wings to a hefty new total of 30 regional banks and credit unions. There aren’t any big names on the extended list, because, well, they’ve all joined the party earlier on, but Bank Rhode Island, Bell, Brookline, Commonwealth Business Bank, Lawson, NBKC, Norwood, Roundbank or Tennessee State Bank clients deserve some tap-and-go love too.
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While Apple is busy bragging about the relatively rapid US retail expansion of its proprietary digital wallet solution, and Samsung inexplicably continues to struggle convincing even British banks to support its NFC and MST-enabled mobile payment service, Google quietly ramps up Android Pay’s global reach.
Available exclusively on American shores until not that long ago, the universal Android 4.4 and up-compatible e-money app very quickly expanded to the UK, Singapore, Australia, Poland, Hong Kong, New Zealand and today, Ireland.
Yes, the same Ireland where neither Apple Pay, nor Samsung Pay are accessible at the moment. And yes, one major local financial institution (AIB), and a smaller Irish banking player (KBC) are already in Big G’s corner when it comes to blazing fast, perfectly secure smartphone shopping.
You can use both Mastercard and Visa credit and debit cards issued by the aforementioned companies at physical stores and restaurants including Boots, Eason, KFC, McDonald’s and SPAR locations, plus in apps like Adverts.ie, Deliveroo and Uber, with “many more” obviously to come. More banks, more shops, and more apps. Maybe even crackers, freebies and other incentives.
One thing Android Pay doesn’t need to drive adoption in Ireland and the world over is convenience. Just tap and pay. What could be more convenient?
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Yes, it’s that time of year again. The time Apple recaps all its great progresses and amazing feats of the past 12 months across many different (and not-so-different) areas of the tech industry, trying hard to downplay any commercial failures, growth stalls or outright stagnations making analysts and investors anxious.
Underwhelming iPhone and especially Apple Watch sales scores? You just wait for the holiday season tally. Slow Apple Pay adoption? Why not focus on the respectable number of US retailers that already support the iOS-enabled digital wallet service? Spotify still outgrowing Apple Music? Perhaps, but there’s room for everyone.
Besides, we all know Cupertino likes hefty profit margins more than rapid expansion to the masses, and as long as rumored Apple Music subscription price cuts don’t materialize, recent growth rates will do. There are now apparently over 20 million paying users, up from 17 mil back in September, which by no means signals doom and gloom.
Then again, Spotify did jump from 28 to 40 million subscribers in around nine months, and that’s arguably a superior hike pace.
Meanwhile, Apple Pay has officially spread the contactless love from a measly 4 to 35 percent of all US retailers in two years, heading for clothing giant Gap sometime in 2017 to further boost a partner portfolio covering 4 million physical stores nationwide. Not too shabby, but let’s not forget arch-rival Samsung Pay works at magnetic-only terminals in addition to NFC-based points of sale.
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Once again, two of the world’s three major digital wallet services practically expand to a new country each at the same time to try to steal one another’s thunder. This time, we’re seeing Google flip the Android Pay switch in New Zealand, where Apple Pay debuted less than two months ago, while Cupertino spreads the iOS-enabled mobile payment love to Spain.
Samsung Pay was actually first on Spanish shores way back in June, though interestingly enough, there’s no overlap yet between the local banks supporting the arch-rival e-money solutions. Each app has one key financial player in its corner (CaixaBank for Samsung, Banco Santander for Apple), with a few smaller banking companies hitched to the Galaxy-exclusive smartphone payment resource, including Banco Sabadell, Abanca, and Imagin.
Santander proudly proclaims its commitment to “bring innovation and new technology to our customers to make their payments easier, faster and more secure”, highlighting around 75 percent of Spanish stores already support contactless payments, and ergo, Apple Pay starting today.
Mastercard debit and credit cards issued by the “leading retail and commercial bank” can be added to the iPhone SE, 6 and later, as well as the Apple Watch, for tap-and-go checkout, with in-app and online shopping also made simple and secure on select iPads and Macs. But Samsung Pay still holds the MST advantage.
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After picking up US support for various membership and loyalty cards back in May, Samsung Pay further beefs up its efforts of one-upping arch-rival digital wallet service Apple Pay in the latter’s home court by launching a new rewards program this week.
This one’s an internal customer-incentivizing plan, giving you points for each and every Samsung Pay purchase, and encouraging you to spend more rather than aiming to reduce physical wallet clutter.
Of course, you’re still encouraged to slim down and maybe even leave that at home once you store everything in the all-accommodating mobile payment resource compatible with select high-end Galaxy phones.
The aptly named Samsung Rewards scheme works “just like a points-based credit card rewards program”, even letting you “double dip” on points, as long as your card’s issuer operates a similar loyalty program.
Depending on how often you make NFC or MST-enabled smartphone payments, you can qualify for one of three loyalty tiers, with support for double, triple and quadruple point gains respectively. Your actual benefits then include various Samsung products, Samsung.com vouchers, Samsung Rewards Visa Prepaid card value, and gift cards to “some of the country’s leading retailers.”
Remember, in-app payments are now also integrated on the fast-rising e-money platform, with online transactions coming soon, and therefore, more chances for Samsung Rewards accumulation.
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Another day, another important update to the ever-growing list of financial institutions around the globe supporting the digital wallet movement. Make that two, as Apple Pay brings secure on-the-go payments to iPhones, iPads and Apple Watches owned by clients of 31 new Australian banks, while Google modestly settles for taking over the US instead of the entire world with, coincidence, 31 extra local credit unions and trusts aboard the Android Pay train.
Capital One undoubtedly headlines the roster of recently added participating American banks to the Android Pay program enabling in-app and one-tap purchases and transactions for any Google-powered, NFC-backed mobile device running OS build 4.4 and up.
The rest of the service’s newbies are mostly small, niche banking players, including the Citizens Savings Bank, Great River FCU, Impact Bank, Midcoast FCU, San Antonio Federal Credit Union, and Seaside National Bank & Trust, to only name a few. Still, in addition to preexisting compatibility for “major credit and debit cards from most of the top US banks”, these frequent expansion waves ensure millions of potential customers are covered.
Meanwhile, Apple Pay continues to make timid progress in Australia, where ANZ remains the lone “Big Four” member willing to abide by Cupertino’s strict rules. As NAB, CBA and WBC insist on gaining access to the underlying NFC technology, Cuscal throws its full weight behind Samsung Pay’s arch-rival, enabling small financial firms like Bank of Sydney, Central West Credit Union, CUA, Defence Bank, Police Bank, and Teachers Mutual Bank to use the mobile payment app.
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Before launching in markets like the UK, Thailand or Taiwan, Samsung’s NFC and MST-based mobile payment service for select Galaxy smartphones has a few loose ends to tie up in countries already supporting it.
As always, the aim is to one-up or at least catch up with Apple Pay, theoretically covering 65 percent of all private bank accounts in Russia and 80 percent of the country’s urban population now that Sberbank jumps on the Samsung Pay expansion bandwagon.
By far the largest, richest financial institution in the world’s largest country by area, this has backed Cupertino’s digital wallet solution from day one, though Apple Pay is yet to spread the regional love to smaller banks.
Samsung Pay, meanwhile, has Alfa Bank JSC, VTB 24 OJSC, MTS OJSC, Raiffeisen Bank JSC, Russian Standard Bank JSC and Yandex LLC in its corner alongside Sberbank OJSC.
As for Canada, where Apple Pay debuted almost a year ago, it looks like the rumors were true, with “early access” to Samsung Pay presented to “valued” CIBC customers using select credit cards issued by the smallest of the nation’s “Big Five” banks.
CIBC MasterCard, US dollar VISA and Prepaid VISA cards aren’t eligible for the time being, and you’ll need to sign up on Samsung’s regional website to basically participate in public beta tests. Baby steps, right?
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