Mobile Payment systems are growing day by day. At this point, pretty much all the smartphone manufacturers have their own payment system such as Apple Pay, Xiaomi‘s Mi Pay, Samsung Pay, etc. However, talking about the growth of these payment systems in India, there is nothing to report. But it looks like Samsung is soon going to come up with it’s Samsung Pay in India soon. Accoring to the new reports which we have, it is expected that the South Korean smartphone manufacturer is planning to bring it’s mobile payment system here in India by the first half of 2016.
Talking about Samsung Pay, currently the company’s mobile payment system is available in Australia, Brazil, Canada, China, Singapore, South Korea, Russia, the US and Spain. And now according to the source, Samsung will bring it to India as well by the first half of 2017. Considering the fact that the NFC-equipped Point of Sale devices are very few, this will be a great news to the people here. Also, India is one of the market where Samsung smartphones are quite popular as well, so this makes a lot of sense from the company’s point of view. And yes, there are a couple of rumors that Samsung will bring this feature to some of the mid-ranged specs devices as well, which will allow them to get more out of the service.
From the last couple of days since the demonetization of old curreny denominations, people are mostly relying on electronic based payment system since getting hands on cash seems like an impossible task here. The use of electronic payment systems such as Debit & credit cards and mobile payments systems such as Paytm & Freecharge, etc has also increased widely. The ideal time would be launch the service right now however, since it is not easy to implement such a huge service in a small time period, we can expect it to arrive by the first half of 2017, which is still. Once Samsung implements the Samsung Pay here, more and more company’s will also bring their systems here like Apple Pay, Android Pay, etc.
Samsung will be launching its payment system in the UK first since they already promised a launch there. Do make a note that it is not confirmed yet by the company directly and hence we suggest you to take this info with a pinch of salt and wait someone sheds more light on this matter. Meanwhile, let us know if you would be interested to use and NFC based payment system or not. Also, stay tuned to PhoneRadar for such info on this and other news.