Gadget360 reported that Samsung is currently planning to merge with different brands of phones for expanding its mobile payment service. As a result, this mega corporation can adopt multiple ways for successful expansion.
Samsung has only two options!
Samsung intends to encourage other phone manufacturers to integrate Magnetic Secure Transmission (MST) chips into their upcoming handsets. This will enable payments after a card swipe, which is a huge leverage against Android Pay.
Userbase of Samsung Pay
The hardware companies, on the other hand, due to lack of capital might intrigue them enough to accept Samsung’s proposition. Despite a small target market, Samsung Pay has accumulated 34 million users already since its inception in 2015.
Its PayMini feature enables Samsung Pay to connect with low budget smartphones without an MST support.
Virtual wallets with compatible bank accounts enable transactions using only data charges.
For more news on Samsung Pay, stay tuned to TTN.