Samsung pay is Samsung’s next mobile payment solution that will take the place of Samsung Wallet, another mobile payment solution from Samsung that never really took off. Samsung wallet is still around but Samsung will be killing it off as from June 30, 2015.
I had expected Samsung Pay to take over from Samsung Wallet but it seems that is not the case. The company has delayed the debut of Samsung Pay till September this year. This will be the same time the company unveils its next flagship device, the Galaxy Note 5. Samsung pay will initially be available in the US and South Korea with other markets following soon.
Samsung’s main competitors will be Apple and Google with Apple Pay and Android Pay. Apple pay has been around for some time now with Android Pay expected into the market very soon. This will mean that Samsung pay will be late into the market and this may affect it adoption to some extent.
Getting into the market late may also work in favour of Samsung as it will be able to see what Apple and Google are doing wrong with their platforms and change that. Samsung also has an added advantage as it acquired LoopPay a while back. Utilizing LoopPay’s technology may give Samsung an edge.
When launched, Samsung Pay will initially be available in about 3 or 4 Galaxy devices before the others.