Customers around the world want to accommodate to the new “digital wallets,” also called “cellular-based payment systems.” The frontrunners comprise Apple Pay, Samsung Pay and Android Pay (once Google Wallet).
Samsung has apparently signed up 5 million users up to now as it happens. The organization seemingly processed more than $500 million in trades.
So how is Samsung Pay distinctive from the others? The South Korean technology giant got the mobile payment solution supplier Iteration Pay in 2015. The technology used via this business apparently mimics the magnetic strip on a charge card and for that reason, it gets rid of the requirement for an NFC terminal to take payments. This implies, retailers may use the present checkout terminals for trade.
Yet, in case of Apple Pay, retailers want payment terminals that are special to process the trade. This also means where there is a choice to make routine card payments Samsung Pay is taken in stores and factory outlets.
Samsung Pay works with Galaxy S7, S6 Edge, S6 Edge, S6 Active, Note 5, Galaxy S6 and S7 Edge. The Apple Pay, on the flip side, is harmonious with iPhone 6s Plus iPhone 6s, iPhone 6, iPhone 6 Plus and Apple Watch higher or paired with iPhone 5. The Android Pay was supposedly not incompatible with about 70 percent of Android apparatus during start.