Samsung’s mobile payment service available for rivals?

TECHNOLOGY
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DUBAI – It may seem blasphemous, but Samsung Pay could possibly come in a non-Samsung phone.

According to a report by gadget.ndtv.com, Samsung is allegedly looking into bringing its mobile payment service to smartphones made by other companies.

TECHNOLOGY - SAMSUNGA source was quoted as saying that a top Samsung seller has held internal talks within the company and with original equipment manufacturer (OEM) about bringing Samsung Pay to high-end smartphones of other companies.

Samsung Pay is a digital wallet service that allows users to make payments using compatible phones and other Samsung-produced devices. Samsung has even brought the service to budget options like the Galaxy J series in the form of Samsung Pay Mini – a slightly downgraded version.

Extending Samsung Pay to other phones will give Samsung a larger slice of the global mobile payment market, which is worth an estimated $780 billion with millions of users worldwide.

To enable this, the source, whose name was not mentioned, said that companies need to add a specialized chip that enables magnetic secure transmission (MST) technology.

In a research published in juniperresearch.com, earlier this year it was estimated that 34 million people were using Samsung Pay, which is fewer than Apple Pay’s 86 million users, but more than Android Pay’s 24 million users. 

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