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Samsung to extend mobile payments to new countries, smartwatches

  • South Korean technology giant Samsung Electronics Co Ltd has said it
    will launch its mobile payments service in three additional countries, as well
    as introducing the system on its Gear S2 smartwatches,
    Reuters reported.
  •  
  • Samsung, through an official Twitter account, said Samsung Pay is
    “coming soon” to three more countries. The service launched last year

    • South Korean technology giant Samsung Electronics Co Ltd has said it
      will launch its mobile payments service in three additional countries, as well
      as introducing the system on its Gear S2 smartwatches,
      Reuters reported.
    •  
    • Samsung, through an official Twitter account, said Samsung Pay is
      “coming soon” to three more countries. The service launched last year
      in South Korea and the United States with plans to enter other markets
      including China, Spain and Britain.
    •  
    • Samsung is hoping the payments service will set its phones apart
      from competing devices, helping the firm protect market share against rivals
      including Apple Inc and Huawei Technologies Co Ltd and compel users to pay a
      bit more for the convenience.
    •  
    • In a separate statement, Samsung said its Gear S2 smartwatches will
      start supporting Samsung Pay in South Korea and the United States in early
      2016. The watches will soon be compatible with Apple devices, the firm said
      without elaborating.
    •  
    • Samsung has reported a strong response to Samsung Pay in its home
      country and the United States, though the service does not generate revenue on
      its own for Samsung. An early advantage for Samsung Pay is its compatibility
      with magnetic stripe card readers already in wide use among retailers.
    •  
    • In comparison, Apple’s competing service – Apple Pay – requires
      retailers to install new equipment supporting near-field communication
      technology.

     

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