Mobile Payments
Mobile payments service Samsung Pay will be available in Korea and the U.S. in Sept. The service is going to be launched together with the Galaxy Note 5.
"Samsung Pay will be available in Sept.," said Executive Vice President of the cellphone business Lee In-jong at the 2015 Investors' Forum in Hotel Shilla, Seoul on June 3. He added, "It will be an issue when our next smartphone is released."
At first, Samsung Pay was said to be installed on the Galaxy S6 in July, but Samsung reportedly delayed the launch of its mobile payments service for around two months, in line with the release of the Galaxy Note 5. The mobile payments service is going to be introduced to Korea and the U.S. first, and in Europe, Australia, and Latin America afterwards.
The Korean tech giant revealed its goal to secure 20 percent of its total Samsung phone users as Samsung Pay users. Around 10 percent of the iPhone 6 users are reportedly using Apple Pay. Executive Vice President Lee remarked, "Our company expects that 15 to 20 percent of Samsung phone users will also use our mobile payments service," adding, "We think that Samsung Pay will help users stick to Samsung phones."
The firm decided to consider whether or not to open Samsung Pay to other smartphones as well. Lee said, "After waiting for our mobile payments service to gain momentum, we will open it to other companies if necessary." He also noted, "Samsung Pay will be installed on other models, in addition to the Galaxy S series," adding, "We also plan to establish a measure to do business with online stores, after attracting users offline."