Mobile payments have been here for quite a while, but when the Apple Pay has been released along with iPhone’s Touch ID sensor, things have started to change. Apple is one of the companies that know how to introduce global trends, turning them into billion dollar industries and this is what the American giant is currently doing with its Apple Pay in the US.
We remind you that even Google has revised its Google Wallet, after the big search company has noticed how well the Apple Pay was received by the users.
In addition, Apple has also confirmed that the owners of older iPhones such as iPhone 5C, iPhone 5 or iPhone 5S will be able to access the Apple Pay service. However, in order to do this, they will need to buy an Apple Watch. By doing this, we’re pretty sure that the company will boost the sales of its Apple Watch.
At the same time, Samsung has also released its mobile payment and named it Samsung Pay, which is currently “live” in South Korea, it’s been live in the United States since September, 2015, but according to the head of Samsung Pay Europe, the service will land in Spain and UK very soon. It seems that more details about this will be revealed during the Mobile World Congress 2016, which will take place in Barcelona, during February 22-25, 2016.
To make things even more interesting, LG is coming with its own LG Pay service. The South Korean company has already signed an agreement with KB Kookmin Card and Shinhan Card in order to bring contactless payments to its customers in South Korea. Unfortunately, LG hasn’t revealed when the LG Pay will be released or if it will be expanded to more regions, but we’re sure that more details about this will be offered soon.
Apple Pay vs. Samsung Pay: Devices That Support These Services
For terminal payments, Apple Pay is supported by the iPhone 6 and iPhone 6 Plus. However, you can also use iPad Air 2 and iPad Mini 3 for payments made within apps. As we’ve told you above, Apple Pay will also be supported by older iPhone devices, as long as they will be connected to the Apple Watch. On the other hand, Samsung Pay is supported only by the Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy S6 Active and the Galaxy Note 5.
Apple Pay vs. Samsung Pay: Credit Cards That Support These Services
The Apple Pay and Samsung Pay are supported by the biggest card issuers such as American Express, MasterCard and Visa.
Apple Pay vs. Samsung Pay: Merchants That Support These Services
Thanks to its MST support, Samsung Pay has a big advantage here. It seems that NFC is still a new technology and many merchants don’t have terminals that support it. However, every merchant supports MST, which is a big plus for the South Korean company. With other words, while Apple Pay is currently supported by 200.000 stores, while Samsung Pay can be used in all those stores and millions more, thanks to MST.
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