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Samsung's next smartwatch will include NFC for mobile payments

Posted: , by Alan F.

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Samsung's next smartwatch will include NFC for mobile payments
A report out of South Korea on Monday morning reveals that Samsung plans on offering its next smartwatch during the second half of this year. The report adds that the timepiece will include support for NFC, which will allow the watch to be used to make mobile payments. Back in March, Samsung introduced its Samsung Pay service for the U.S. and Korea. The service will launch with "select partners" next month. Samsung had no immediate comment on Monday's report.

Apple also employs NFC on the Apple Watch so that owners of the smartwatch can use it to make mobile payments with Apple Pay. Apple's take on an Apple Pay transaction is .15%  That means that on a $100 purchase, the tech titan gets 15 cents. While that doesn't seem like a lot of money, consider how many purchases could be made every day using Apple Pay. On each debit card transaction using Apple Pay, the company receives half a penny regardless of the transaction's value.

While Google recently introduced Android Pay at Google I/O last month, a Wall Street Journal report this past weekend said that Google will not receive any transaction fees from banks thanks to new rules involving card security standardization. These new rules prevent mobile payment services from charging fees to credit card issuers. Banks are hoping that they will be able to renegotiate their contracts with Apple, which were signed before the new rules started.

This doesn't mean that Google won't make money from Android Pay. Analysts say that each person using the service is worth $300 to Google thanks to advertising and marketing programs.

source: EconomicTimes via Reuters

21 Comments
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posted on 08 Jun 2015, 01:08 10

1. DRS1977 (Posts: 418; Member since: 27 May 2015)


You didn't even mention in the article if you think that watch will be the Gear A/Orbis or not. Instead half the article is about Apple. *facepalm* Come on man...

posted on 08 Jun 2015, 03:56 6

10. Ordinary (Posts: 2177; Member since: 23 Apr 2015)


Yep Apple is mentioned more in Samsung article than actual Samsung LOL

posted on 08 Jun 2015, 10:38

17. Topcat488 (Posts: 1393; Member since: 29 Sep 2012)


I know dude, but Alan F. has always been a big Apple guy... Maybe someone should tell him that 15% of $100.00 or .15 of 100, is not 15 cents, but rather $15.00...

That means that on a $100 purchase, the tech titan gets 15 Dollars. O.o

posted on 08 Jun 2015, 01:24

2. Kruze (Posts: 1285; Member since: 30 Dec 2014)


Mobile payments are failure anyways.

posted on 08 Jun 2015, 01:46 6

3. AnTuTu (Posts: 1578; Member since: 14 Oct 2012)


Only if it is an Apple pay.

posted on 08 Jun 2015, 03:17

9. AlikMalix (Posts: 5053; Member since: 16 Jul 2014)


Because? As soon as Home Depot starts accepting, it will be a success for me... all my other shopping areas accept it already, including both Banks I bank with.

posted on 08 Jun 2015, 06:03 2

12. xondk (Posts: 1202; Member since: 25 Mar 2014)


The problem isn't what companies want to use apple pay, the problem is that there is 0 reasons for banks with already well established and profitable ways of paying, to give apple a cut of their profits, none, zero, absolutely no reason.

So either the retailer or the customer has to lift the cost, and given that samsung pay allows for nfc and magnetic payment, meaning they do not require retrailers/shops and such to get new machines, where they need to to use apple pay, why would anyone want to use apple pay other then "It is apple so it is good!" which makes no real sense in this regard?

posted on 08 Jun 2015, 11:36 1

18. TechieXP1969 (Posts: 8344; Member since: 25 Sep 2013)


You lack even the simplest form of common sense.
Android and Samsung Pay both use the same tokenization.

This basically means, the device will work with 90% of the retailers already in use card readers. This means that none of the banks are going to push hard for Apple's method, especially since its cutting into their bottom line.

They were stupid to negotiate Apple getting a slice. Apple Pay isn't going to increase payments. All these people were already using credit/debit cards. Using the phone to make the payment doesn't change much. What it does change is people are going to stop using it because, 9 times out of 10 they will have to still use their credit card.

You are so happy "some" places you frequent take Apple Pay. great!

Here is what you are missing. With the other options the only issue is having a phone that works with the service. Right now Samsung has 2 phone and Google has 1 that works with Android/Samsung Pay respectively. Apple Pay works with also 3 devices, but one isn't as circulated as the other nor will it be.

As long as retailers have to spend money to make something work, the highly unlikely they will spend the money.

The reason Google Wallet never took off even though lots of phones have NFC in them is because retailer didn't spend the money needed to change out the card readers and replace them with readers that also have NFC chips in them.

Apple Pay will be just as much of a failure as Wallet because of the same reaons. Those retailers aren't going to rush out and by NFC based terminals, especially since Google and Samsung devices wont even need them. It would be a waste of money.

posted on 08 Jun 2015, 11:45

20. TechieXP1969 (Posts: 8344; Member since: 25 Sep 2013)


http://www.neowin.net/news/many-retailers-still-skeptical-about-apple-pay

posted on 08 Jun 2015, 01:48 1

4. CAMBODIANPATRIOT (banned) (Posts: 226; Member since: 10 May 2015)


Yawn***

posted on 08 Jun 2015, 02:55 4

8. Ordinary (Posts: 2177; Member since: 23 Apr 2015)


http://cdn.meme.am/instances/500x/48945101.jpg

posted on 08 Jun 2015, 01:56 1

5. obedchuni (Posts: 159; Member since: 16 Jun 2014)


sammy just follow and you will eventually success, see what happened to S6 and S6 edge sales, just put the SD card slot and games don't run properly on your exynos chip, pls optimize it properly so that games can run properly, use good chip for the low end mobiles too rather than broadcom and marvel travor....

posted on 08 Jun 2015, 02:06 9

6. drunkenjay (Posts: 859; Member since: 11 Feb 2013)


? my s6 edge runs perfectly so i dont know what you are on about.

posted on 08 Jun 2015, 02:46 3

7. fyah_king (Posts: 206; Member since: 22 Jul 2013)


Is this English?lol

posted on 08 Jun 2015, 05:53 2

11. Neros (Posts: 1016; Member since: 19 Dec 2014)


Android Pay, lol. Google is going to sell all your info to other companies or government organisations. Get scroogled. I don't trust google and I'd rather go with AP or SP.

posted on 08 Jun 2015, 06:45

13. gaming64 (unregistered)


Android Pay isn't released yet, dumbass. Go get the malware in your head somewhere else.

posted on 08 Jun 2015, 06:53 1

14. tedkord (Posts: 10231; Member since: 17 Jun 2009)


Another tard spreading FUD. Google doesn't sell your info. They do the exact same thing Apple does - they match your ads up with you usage, automatically (no person looks at it). And you can opt out and just get random ads.

posted on 08 Jun 2015, 07:25 2

15. Neros (Posts: 1016; Member since: 19 Dec 2014)


Exactly, you buy Chinese food and google spams you with sh*tty ads. Same way they go through your mail with special algorithms. Apple doesn't do that. Google has gone way over board and been punished by the EU for spying practices.

posted on 08 Jun 2015, 08:36 1

16. epic_ninja420 (Posts: 49; Member since: 18 Nov 2014)


Bro the NSA is doing a lot worse with your info than Google ever has. Where is the EU punishment for them? Oh wait pretty much every country spies on its population. Unless you are willing to completely fall off the grid thats the fact of life.

posted on 08 Jun 2015, 11:42 1

19. TechieXP1969 (Posts: 8344; Member since: 25 Sep 2013)


Sell what? What information? They cant get your credit card number because tokenization prevent number storage as the number sent is different every time.

Credit card companies can already see your shopping habits. All website also trace them which is why you get ads based on things you've shopped even if you didn't buy them yet.

What is Google going to do that is any different? You think Apple doesn't sell your stuff?

You have it in your mind that Google is some evil Corp when they are no more or less evil than anyone else. They are ALL in business to make money.

STOP BEING FOOLISH!!!!

Google tells you exact what they will do wit your data or not. Does Apple?
If you are worried about your data there are simple ways to protect it. A - Don't buy anything online. If you buy online you've already given up your privacy whether they sell it or not. B - Stop using credit cards. USE CASH FOR EVERYTHING. Use of cash requires no identification whatsoever. C. Just pass away. Someone on this planet already knows who you are and everything about you since the day you were born and its not just your parents.

Stop being a paranoid moron.

posted on 08 Jun 2015, 11:46

21. TechieXP1969 (Posts: 8344; Member since: 25 Sep 2013)


http://www.neowin.net/news/many-retailers-still-skeptical-about-apple-pay

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