In almost so many aspects, Apple appears to be ahead of Samsung. But in the war of mobile payments, it seems like Samsung has the edge.
Samsung on Thursday announced its mobile payment system called Samsung Pay. This is their answer to the existing mobile payment solutions of rivals like Apple with their increasingly well-loved Apple Pay.
It’s easier to downplay anything a competition comes up with against an existing product. In this case, Apple Pay has already rolled out and the advantage of it cult following might seem daunting for Samsung.
But last Thursday’s launch proved that not all things are to the advantage of Apple. Samsung Pay is one clear example of this.
Advantage of Samsung Pay over Apple Pay
Samsung Pay is readily more available for users in more establishments.
Business Insider notes that while Apple Pay relies on Near-Field Communication (NFC) technology, which stores have to acquire expensively to upgrade to the system, Samsung Pay uses Magnetic Secure Transmission (MST) technology, the same technology used by credit cards today.
Since this technology is already so pervasive, anyone can think it’s clearly an edge.
PC World reports Samsung CEO, J.K. Shin, announced on a New York event that Samsung Pay will be available for all without additional costs.
The down side
Before Samsung fans join the parade of pride, it’s also important to note that Samsung Pay cannot work where credit cards are swiped into slots. This kind of technology required actually cards to be swiped and your Samsung Galaxy Note 5 simple cannot do it. But then again, Samsung says it’s in the works.
Read also: How to set up Apple Pay on your iPhone
Samsung Pay will be rolled out in Korea on August 20 and in the US on September 28. Next will be in UK, Spain and China, though no word yet as to when.