Samsung Pay to get support for online shopping in 2016
In a recent interview with Reuters, Thomas Ko, global co-general manager of Samsung Pay said that the mobile payment platform will get support for online shopping in 2016. Furthermore, Ko said that the payment platform will also be extended to more Samsung smartphones in the upcoming months.
When it comes to the mobile payment market, Samsung finds itself in a very interesting place. Despite the fact that Samsung's payment solution has a huge advantage in being able to work with most magnetic-stripe payment terminals, Samsung Pay is lagging behind its competitors in regards to card issuer compatibility.
When it comes to the mobile payment market, Samsung finds itself in a very interesting place. Despite the fact that Samsung's payment solution has a huge advantage in being able to work with most magnetic-stripe payment terminals, Samsung Pay is lagging behind its competitors in regards to card issuer compatibility.
At the moment, it's unclear what this move to online shopping would entail for Samsung Pay. Most likely, Samsung will allow Pay users to place payments through a browser. Such a feature would place Samsung in direct competition with PayPal, and would represent a very bold ambition for Samsung.
At the moment, Samsung Pay is only available in South Korea and the United States. In the interview, Ko also said that the platform is about to expand to more countries, but so far, the list of new territories and specific release dates are still to be unveiled. Previous rumors said that Samsung Pay will launch in China, the UK, and Spain during the first quarter of 2016.
source: Reuters
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