Samsung Pay might arrive on non-Samsung devices later on, high-ranking executive reveals
Samsung Pay, the South Korean company's answer to Apple Pay and Android Pay, was officially launched in the States in late September and has since allowed the users of compatible Samsung devices to easily make mobile payment with their devices. The mobile system makes use of both NFC (Near-Field Communication) and MST (Magnetic Secure Transaction), which makes it a bit more feature-rich than both Android Pay and Apple Pay.
So far, so good, but the service is only available on a couple of top-end Samsung devices as of now. Fortunately, there's a light in the tunnel for all those non-Samsung users that are hoping to jump on the Samsung Pay train: a recent rumor has it that the payments service might eventually become available on other manufacturers' smartphone offerings.
This tidbit comes straight from the VP of Samsung's mobile division, Injong Rhee, making this rumor as credible as it can get. It's safe to assume that this has been discussed at the very top of Samsung.
"From the beginning, we've considered providing Samsung Pay to our partners. But right now global expansion is happening so quickly for Samsung Pay that we are focusing all our energy on deployment, " the VP said.
Additionally, the executive revealed that the whole idea behind Samsung Pay was not to replace your wallet, but co-exist alongside it.
"Rather, it is a competition with the plastic card. More and more, all the plastic cards -- gift cards, membership cards and the like -- will go inside mobile. Our wallets will get thinner. Samsung Pay and wallets will complement each other, and this will create new value, and become a tool that makes ecommerce much easier," Injong Rhee said.
As usual, there is no ETA for a more open Samsung Pay. We also shouldn't rule out the possibility that Samsung might change its mind in the coming months and keep its mobile payments system exclusive for its own high-end Galaxies.
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