Samsung is currently in talks with a wireless payments start-up to set up its own Apple Pay-style ecosystem, according to new reports.
Recode has revealed that the South Korean firm is trying to woo Massachusetts-based firm LoopPay, although it’s not yet clear whether a deal has been confirmed.
The system would reportedly come into existence some time in 2015, the same year in which Apple is expected to push through a wider roll out for its own payment service.
LoopPay integration would mean Samsung’s smartphone users would be able to make contactless payments in brick-and-mortar retail stores.
Currently, Apple Pay works through NFC chips built into iPhone 6 and 6 Plus units, with the TouchID fingerprint sensor used to verify authentic payments.
Samsung could quite easily integrate a similar system, as its flagship handsets tout both a fingerprint scanner and NFC support.
Google already offers its own wireless payment service – Google Wallet – which is available to all Android smartphones.
Unfortunately, the Mountain View-based firm never rolled out the service beyond US borders, nor did it market Wallet very well, both of which have contributed to a lacklustre uptake.
It’s no surprise then that Samsung wants to eschew Google’s payments and lock horns with Apple off its own back.
Building an in-house alternative to third-party wireless payment systems could be a big incentive for consumers to pick up a Samsung handset over an Android rival.
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Of course, there’s no way of confirming the latest rumours to be true, and even if talks are in progress, there’s always a chance the deal could fall through last minute
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Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
