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Samsung Pay to take on PayPal with online payments

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Samsung Pay

Samsung will expand its mobile payment system, Samsung Pay, to include online payments in the new year.

The Korean electronics giant rolled out its answer to Apple Pay earlier in the year, enabling payments to be made using appropriately equipped Samsung smartphones. The Samsung Galaxy S6 was the first to enable such payments.

However, Samsung has broader ambitions for its payment platform. It's now got the likes of PayPal and other online payment systems in its sights, according to a new Reuters report.

Apparently, Samsung will expand its payment service in the US (where it launched on September 28) in 2016, allowing users to shop online using their Samsung phones.

Thomas Ko, global co-general manager of Samsung Pay, is reported to have said in an interview that wider "handset availability of Samsung Pay as well as online payment support is coming soon."

As this suggests, Samsung will also be releasing lower-end smartphones capable of making Samsung Pay payments in in the new year.

Related: Apple Pay vs Samsung Pay

While Samsung doesn't quite have the brand strength of Apple in the US, its mobile payment system does have one notable advantage over Apple Pay - and every other mobile payment for that matter. It can be used with existing card reader technology as well as new NFC systems, which is a massive plus in a country that has been relatively slow to adopt modern payment standards.

If Samsung adds online payments to its package, Samsung Pay could become even more appealing to those in the US looking to abandon their wallets.

Debating whether to go Samsung or Apple? Take a look at our smartphone buyers guide video:

Philip Cohen

December 29, 2015, 6:14 pm

.Notwithstanding the constant flow of disingenuous nonsense from eBay/PayPal (and their paid shills), the share prices of these two clunky operators demonstrate the reality ...

August 2007: AMZN ~$40; EBAY ~$40 ...
June 2015 (pre eBay-PayPal split): AMZN ~$430; EBAY ~$66 ...
Currently: AMZN ~$690; EBAY ~$28; PYPL ~$37—LOL ...

The "spin-off" of PayPal from eBay is a sham: eBay and "PreyPal" remain joined at the hip, and anyone that thinks otherwise is naïve in the extreme; and, thanks to a continuation of most of the imbecilic policies introduced over the eight year (2007–2015) reign of the "Pain from Bain", John Joseph Donahoe II, the eBay marketplace is continuing on its journey down the toilet. Nevertheless, this cretin and his gang of hand-picked Keystone Kops were, during this same time, still able to pay themselves massive, unearned, "performance" bonuses.

The reality is, PayPal is a virtually non-regulated, clunky, payments intermediary that, in the main, rides on the back of the banks' existing payments systems; even more perilous, the great majority of PayPal's business still comes from its effectively mandated place on the eBay marketplace, so it follows that—with or without the cretinous Johnny Ho-Ho-Ho sitting at the head of the PayPal boardroom table—"PreyPal" will be accompanying eBay on its journey to the sewage farm. "PreyPal" now has little long-term future outside of the atrophying eBay marketplace now that professional online payments offerings from MasterCard ("MasterPass") and Visa ("Visa Checkout") are available to any professional online merchant that has a credit card merchant account with a real bank. With respect to point-of-sale "mobile" payments, even Apple Pay's dismal initial showing has exceeded PayPal's miniscule share of that market—LOL ...

Pierre Omidyar can now dream about how much more fabulously wealthier he might have been had he not let the cretinous Johnny Ho loose in the eBay corner office; yet, incomprehensibly, Omidyar has now allowed this headless turkey to occupy the seat at the head of the boardroom table at "PreyPal."—LOL!

eBay is, demonstrably, likely to be (still) the most unscrupulous commercial entity operating on this planet; but, have no fear, eBay is an equal opportunity fraudster—they will knowingly aid and abet the defrauding of both buyers and sellers—as long as there is a financial benefit in such fraud for eBay; and if anyone thinks that "PreyPal" is any more scrupulous, given their utter lack of any effective mediation of transaction disputes, good luck to you ...

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