Samsung’s has admitted its planned Apple Pay mobile payments rival will not arrive this July, as previously announced.
That means the launch is likely to coincide with the arrival of the next-generation Samsung Galaxy Note 5 phablet, scheduled to debut at the IFA tech fair in Berlin during that month.
The scheme, which utilises the LoopPay technology Samsung acquired in February, is also scheduled to arrive in Europe, China, South America and Australia later this year.
The two-month delay may not seem like a big deal, but given Apple’s aggressive and promising Apple Pay rollout across the United States and Google’s recently announced Android Pay initiative, time is of the essence.
Google’s Android Pay service is currently in use in about 700,000 locations in the United States, thanks to its ability to turn any Android smartphone application into a digital wallet for physical and online use.
Read more: Apple Pay vs Samsung Pay
Despite the delays, Samsung’s service has a potential advantage over all of the solutions currently in existence.
The Samsung Pay platform, which now includes partnerships with major card providers Visa and Mastercard, enables NFC payments through contactless readers, plus instant compatibility with 90 per cent of traditional magnetic strip card readers currently in circulation.
As we wrote in a recent breakdown of the new service: "This essentially fools classic magnetic stripe card reader technology into thinking a physical card is being swiped through, when it's actually a digital signal. In practice, it will feel much like a standard NFC payment."
Which service do you think will come out on top? Let us know in the comments section below.