Samsung tests mobile payment service


(Source: Inside Retail Asia | July 8, 2015)

Samsung has launched a short, live beta test of its new mobile payment service.

Samsung Pay, developed by Samsung Electronics, will soon be launched in its home market soon as a beta service for a 36 day trial period.

Samsung Card says it will recruit beta testers for Samsung Pay until July 10. The testers will experience the Samsung Pay service at various major offline member stores of Samsung Card from July 15 to August 20.

The card company will provide 10,000 points to those beta testers who spent more than 50,000 won through the payment solution. In addition, the company will hold a special event offering up to 50,000 points to active beta testers who use the service often.

Samsung Pay, which is to be available in September, stands out from other competitors as the service supports virtually all forms of payment – near field communication (NFC), magnetic secure transmission (MST) and barcode technologies – which reaches far more point-of-sale devices than those of its rivals.

Currently, other mobile payment services are used mainly online as they lack offline affiliates.

Meanwhile, Samsung is planning to introduce the payment platform in the US later this year to compete with overseas mobile payment services like Apple Pay and Alipay.