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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The cat is now out of the bag, as Android 7.0 Nougat on the Galaxy S7 and S7 Edge reveals Samsung Pay is on its sure way to Indian shores.
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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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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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