Samsung has initially introduced its mobile payment service Samsung Pay in September 2015 in South Korea. It was later introduced in the U.S and China, and now it is going to launch in European countries starting with Spain from next week. As of now, only the high-end devices starting with the Samsung Galaxy S6 supports Samsung Pay. In South Korea, the Samsung Pay can also be used for withdrawing money from ATM’s.
The only drawback for Samsung Pay is that it doesn’t support online payments like Apple Pay or Android Pay. Now the South Korean giant is expanding the Samsung Pay services by launching a new app called Samsung Pay Mini for both iOS and Android devices. With this app, the users can also make the online payments. It is expected to go live sometime in June on both Google Play Store and Apple App Store.
Though not the all the devices will support Samsung Pay, the company may come up with certain requirements for the devices to support. While ETnews is sure about the availability of the Samsung Pay Mini service in South Korea, there are no details whether it will be introduced in other countries where Samsung Pay is already available. While most of the current Samsung Pay users are using the virtual wallet for offline shopping.
The Samsung Pay usage for online payments is not even 20% of the total transactions. The company is hoping to increase the online usage with this new app. Samsung Pay also supports the Magnetic Secure Transmission (a.k.a MST) while the Apple Pay and Android Pay settles with NFC based payments. In his recent visit to India, Tim Cook, CEO of Apple mentioned that the company is working to bring the Apple to India. Once Apple Pay is live in India, we expect Samsung Pay also to be made available for Indian users.
(Featured image is edited for representation purpose)