Samsung is planning to launch its mobile payments service Samsung Pay as a downloadable iOS app, according to a new report from South Korea’s ETNews (source). Called ‘Samsung Pay Mini’, the app will allow iPhone users to enter their credit card information to make payments within online stores, similar but not exactly how they do through the existing Apple Pay service.
Further details in relation to a possible release barrier were not shared, though pointing to as early as June. The service is expected to be, maybe just at launch, limited to South Korea in terms of availability.
WHY SUPPORT IPHONE?
Samsung’s alleged reason behind introducing support for it’s Mobile Wallet for not only further Android handsets which are non Samsung, but mainly iOS, is due to Samsung Pay’s poor performance on the company’s Galaxy devices. Samsung believe that expansion at this extent to Apple’s iOS ecosystem, one which has found greater success with it’s Apple Pay service, would benefit the Samsung Pay service greatly.
“By releasing Samsung Pay Mini, Samsung Electronics has completed a versatile platform that absorbs online and mobile payments.” said a high-ranking representative of a card company. “Besides of online payments, SamsungPay Mini will be a catalyst for Samsung Electronics in tying together variety of additional businesses”
The service is expected to be completely free to use and will work on all iOS and Android devices running the latest updates. In terms of support on the initial launch in South Korea, Samsung Card, Lotte Card, and Hana Card have all agreed to support Samsung Pay Mini, although many including KB Card have mentioned interest in joining the service. But, as mentioned North Korea is the only market the service will be available in, at least for now.
The move is definitely an interesting one, though time will tell whether it will make a dent on the success of Samsung Pay, especially as Apple Pay already is available in much more markets and support is doing nothing but grow.