While everybody is waiting around for the launch of Samsung Pay, new rumours have emerged suggesting that Samsung has a second payments app in the works.
Samsung Electronics is going to launch ‘Samsung Pay Mini’ in June 2016, according to a report by South Korean news outlet Electronic Times. The company hasn’t publicly acknowledged such an app, but it’s said that the service will launch on both iOS and Android as soon as next month.
The report, which cites industry sources, claims that the app will handle online payments, a bit like PayPal. That’s in contrast to Samsung Pay proper, which offers real-world contactless NFC-based payments and magnetic stripe payments. Several South Korean credit card companies are already said to be on board, including Samsung Card, Lotte Card, and Hana Card.
Samsung Pay proper hasn’t launched in the UK yet
Related: Android Pay vs Apple Pay
Samsung reportedly hopes that the new app will make it much easier to make online payments. According to ET, online payments account for less than 20% of all transactions through Samsung Pay currently. The report puts this down to the existing app’s “complicated procedures”.
We’ve asked Samsung for comment on this matter, and we’ll update this article with any response.
Samsung Pay is currently available in South Korea and the USA, and is expected to arrive shortly in Australia, Brazil, Spain, Singapore, and the UK. A British launch was rumoured for May, but that’s looking unlikely right now.
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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.