Death Magnetic: Samsung Pay adoption faster than Apple Pay

Since its inception back in September, Samsung Pay managed to reach 5 million users and $500 million in transactions, which is a pretty remarkable feat, considering that it's only available on a few phones. For comparison, Google's Android Pay also has 5 million users, while Apple Pay has 12 million, but it has been available for much longer, making Samsung Pay the fastest-growing proprietary mobile payments platform...
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35. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Well seeing that MagStrip is 90% of the retailers in the USA and since they also support NFC, which add the 10% that only Apple can get, plus Europe which is 90% NFC; Samsung has a tri-fold advantage over Apple and Android Pay systems. It's how the ifans say it best. Its now about who is first, its about who does it right. Samsung got mobile payments right! Now I sound like a Samsung promo...but a fact is a fact. I love going to places and people say that doesn't work here or Apple Pay doesn't work here. I be like well first it isnt Apple Pay and I've used it here or it shoudl work here.

10. xondk

Posts: 1904; Member since: Mar 25, 2014

Well....Samsung Pay can be used with near any terminal, Apple needs a very specific one, seems to make sense that the one that is most compatible would be the one most broadly adopted and used? That said one of the reasons it might not be gaining that much ground, is that countries are seeing wireless payment arrive within their credit cards themselves, heck I have that, just hold my card over terminal for a second, boom payment done, if above certain amount enter pin. Little reason to pull out your phone in that sort of situation.

11. MrMiyagi

Posts: 41; Member since: Feb 27, 2014

Not surprised...Samsungs tech speaks for itself

14. S.R.K.

Posts: 678; Member since: Feb 11, 2016

Apple brand speaks for itself.

36. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Dude, which side are you on! I choose no side. Both brands speak for themselves.

47. meanestgenius

Posts: 21767; Member since: May 28, 2014

Pure BS on your part. Everyone here knows you're an Apple hater and a Samsung fanboy. Quit it with the lies, dude. No one is buying it.

15. grbrao

Posts: 294; Member since: Nov 23, 2012

if the android system is hacked will it be covered by samsung?

16. vijay.alapati

Posts: 181; Member since: Jan 08, 2015

Is it because samsung offered free gifts like headphones, watches or wireless charging stations for free when you activate samsung pay in US...

23. TerryTerius unregistered

Does it matter? A working strategy is a working strategy.

38. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

None of those things were true when I bought my S6 Edge 128GB. I dont need to be given free s**t to buy a phone I want. Guess what, I refused to buy the S7, because I dont want the SnapDragon model. The free VR offer makes no difference to me. So you're stupid. Free stuff is nice, but ti doesn't matter to everyone. After all. Why go into debt to pay for a phone, when I can just get the gear VR for $100 vs paying $700 for a phone I dont want to get it? Dude you are a stupid troll.

17. yoosufmuneer

Posts: 1518; Member since: Feb 14, 2015

Samsung Pay should support more banks and availability should be global. Currently its limited to only a handful of countries

18. ph00ny

Posts: 2025; Member since: May 26, 2011

Banks supporting samsung pay not the other way around

39. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Samsung doesn't need to have all banks liek neighborhood banks. All they need onboard is the banks that have the most customers. In the USA, that woudl be Citi, Chase and Bank of America, which Samsung does have. Also US Bank. For other banks, they due support American Express. What I dont understand is very simple. The MST tech comes from MasterCard. I dont understand why tou cant add any Mastercard no matter what bank issued it. There has to be a solution to where as long as your banks debit card supports Visa and MC, you card should be able to be added to any pay system no matter which bank you are with. If Samsung does this, both Apple Pay and Android Pay are goign to be pushed to a combined 5% usage.

19. Shocky unregistered

Still no Samsung Pay here in the UK.

21. S.R.K.

Posts: 678; Member since: Feb 11, 2016

That's true. I'm in London Marylebone, Baker Street.

40. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Because Samsung Pay isn't on the International versions of their phones. I am not sure why.

22. Trakker

Posts: 283; Member since: Feb 11, 2016

Like I've always said that iPhone users generally just don't use anywhere near the already limited features of iPhone.

25. DnB925Art

Posts: 1167; Member since: May 23, 2013

Samsung Pay is in only in 2 countries as of now: USA and SK and it already has 5 million and with a smaller list of supported banks than Apple Pay. Once it hits more countries and supports even more banks, it'll eventually surpass Apple Pay IMO. Oh yeah, Wells Fargo was just added yesterday to Samsung Pay. Plus with the S7/Edge release which also supports Samsung Pay, even more people will be joining Samsung Pay soon as well.

28. Unordinary unregistered

I hope so, because if not, that will be very pathetic lol. It's adoption rate has still been incredibly slow (this articles source was deemed incorrect a few hours ago).

41. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

Samsung needs to go for the juggler and kill Apple and Android Pay with a single blow and here is how and I have already sent a suggestion to Samsung more than once. Your credit and debit card in the USA, works at nearly any ATM. How? because on yoru card, the card is design to carry the needed codes to support multiple payments systems. Lets say you go to an ATM that doesn't bare a Visa or MC logo and yes there are some. How do you get cash? This is where the Star and Pulse logos come in. If you bankcard have these logos, then you can use an ATM that also have these logos if they don't accept Visa or MC. These ATM's are typically at gas stations and small neighborhood stores. Since the tokenization technology is directly from MasterCard, then all Samsung Pay needs is the same code that would allow any credit or bank debit card that bears this logo to be added to Samsung Pay. Visa also has their own tokenization as does AMEX. As long as Samsung can add those, yet again any card bearing those logos could be added. The only downside is the possibly someone could scam this system and make their own cards. But this would be rare if at all, because when you add a card to Samsung Pay or any mobile pay, it send the request to your bank to confirm it was an actual issued card and it uses their system to charge $1.00 to the card which falls off after 5 days. If Samsugn did this ASAP, Apple and Android Pay at least in the USA would die a near instant death with only acceptance ayt NFC terminals. Also if Samsung can find a way to make Samsung Pay work at the pump, its over. Citibank already has a way to use mobile phones at their ATM, others like Chase and Bank of America and US Bank will follow. We dont need to get all those small neighborhood banks involved. After all they pay to use mastercard and visa on their card, so why into make a way for mobile payments work with both the same no matter which bank? The only reason Samsung has to go to the banks, is because your bankcard is not directly issued by Visa and Mastercard. All direct issued MC and Visa cards work with all 3 payment systems. But trying to support every single bank to me is dumb. That is why Samsung chose the biggest USA banks and not those tiny ones. But we need those too, because they make up more than 50% of the total card usage in the USA. Because debit card don't rely on credit. All you need is a checking account and you can get a bankcard. But most people in the USA can't get a credit card because they lack credit worthiness. So Apple was smart in including neighborhood banks. But if Apple has bought Loop Pay, Apple Pay would be killing it because of more bank support, all woudl be left is gettign the retailers onboard which is harder too do. aonce Samsung gets neighborhood USA banks like Fifth Third, and more. Its over!

52. niteiknight

Posts: 77; Member since: Aug 02, 2012

I wish that Google had acquired LoopPay instead of Samsung. Then maybe it wouldn't just be Samsung users who can do MST. If LoopPay had been incorporated into Android Pay, it could've benefited all (of the latest) Android users, not just Samsung ones.
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