Report: Samsung planning Apple Pay competitor

Report: Samsung planning Apple Pay competitor
According to a report, Samsung may launch a competing payment service to Apple Pay during 2015.

Re/code cites sources familiar with Samsung's plan to allow owners of some smartphone devices to use them to pay for goods and services at brick and mortar stores, much in the same way as the Apple Pay service operates.

The sources tell Re/code that Samsung is in talks with LoopPay, a payments firm based in Burlington, Massachusetts, but that talks are at such an early stage and could still collapse before an agreement is possible.

Using a smartphone to pay for goods offline is not a new idea but it has been rejuvenated by Apple sticking its toes into the water with Apple Pay. Users of Apple Pay can use the fingerprint scanner on its iPhones to authenticate payments at point of sale.

Samsung's system would also likely rely on fingerprint authorization.

Read more at Re/code.

Written by: James Delahunty @ 16 Dec 2014 13:31
Samsung Apple Pay
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