Samsung reportedly mulling mobile payments move to counter Apple Pay

mobile phone

Samsung is rumoured to be looking at launching its own contactless mobile payment system, which may involve payment startup LoopPay. This comes as Apple continues to brief the press that Apple Pay is going well. Samsung's move reflects the pressure it is under from lower-priced Chinese Android vendors as well as Apple's recovery at the high end of the market. Samsung's need to differentiate itself as an Android vendor explains failed OS attempts. If Apple Pay takes off there will clearly be a need for an Android equivalent, but this is surely more likely to be provided by Google. LoopPay appears to be a less intrusive technology as one of it is primary functions is to enable the wireless transfer of card data, via technologies such as NFC.

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

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