Smartphone adoption has skyrocketed in recent years, and so have digital payment options. Google Wallet paved the way for services such as Android Pay and Apple Pay, both of which have steadily gained ground. Samsung Pay was a little late to the game but has become a viable alternative for many Samsung owners as the company has continued to add support for more banks and merchants.
Samsung recently announced that Samsung Pay support would be rolling out to three more countries including Russia, Thailand and Malaysia. The service is now supported globally in ten countries. Samsung also announced a partnership with Mastercard to allow Samsung Pay to be used for online payments and express checkout via Masterpass. The Masterpass service is currently accepted by hundreds of thousands of merchants in some 33 countries.
Samsung initially launched support for online payments in South Korea last year and the service did well. Thomas Ko, a Samsung VP and global GM, stated “Online payments accounted for more than 25 percent of the 2 trillion won in processed transactions, demonstrating that consumers may be actively looking for solutions to make their online experiences faster, simpler and secure.” Samsung hopes to continue that success with its recent expansions.
Samsung customers in the U.S. will also receive new features including support for in-app payments and nearby deals. Users shopping on their devices with select merchant apps will be able to select Samsung Pay as a payment option at checkout. Starting in November, Samsung Pay will notify users of coupons or discounts at nearby stores and restaurants which can easily be redeemed.
Digital payments have gained traction in the past few years as well. Support for more countries, banks and merchants continues to grow. Samsung’s dominant smartphone marketshare and Samsung Pay’s ability to work with magnetic card readers gives them a bit of an edge. With the addition of these new features, the company continues to improve their service.
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SOURCE [Samsung]
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