5. Samsung Pay
In a move that is obviously intended to counter Apple’s recent entry into the mobile payments market, Samsung’s Galaxy S6 will also feature Samsung Pay software, reports BGR. According to BGR’s insider sources, Samsung Pay will work with “90% of existing magnetic stripe payment terminals, and NFC payment terminals.”
A related report from SamMobile claimed that Samsung is collaborating with Visa and computer security company McAfee on the mobile payments system. Like Apple Pay, Samsung Pay will presumably work in conjunction with the device’s fingerprint sensor. SamMobile previously reported that Samsung is planning on implementing a touch-based sensor in the Galaxy S6 that will be more similar to Apple’s Touch ID sensor. Samsung’s current fingerprint sensor uses swipe-based approach that has been criticized as difficult to operate with one hand.
The ability to use Samsung Pay at a majority of existing payment terminals may give Samsung’s mobile payments system an advantage over Apple Pay, which — despite its popularity with users – currently has limited availability due to a consortium of merchants that are blocking its use at many major retailers. On the other hand, consumers may also be wary of Samsung Pay due to Android’s reputation for malware.
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