Samsung Pay has recorded a net loss of US$16.8m since the mobile payment service was unveiled in March 2015, despite attracting approximately five million users in South Korea and the US in its first six months... More
Samsung
Samsung Pay to enable deposits at South Korean ATMs
Samsung Pay users in South Korea will soon be able to both deposit and withdraw money from the ATMs of Woori Bank, Shinhan Bank, KB Kookmin Bank, Industrial Bank of Korea and NH Nonghyup Bank... More
Apple Pay tops US merchant mobile wallet requests
Nearly half of US point of sale merchants (44%) are using or have requested information about mobile wallet solutions and 67% of those wanted Apple Pay, an investor note by Piper Jaffray analyst Gene Munster reported by Barron’s reveals... More
Analyst compares global take-up of key mobile payment services
Apple Pay has attracted 12m monthly users globally since its launch in October 2014, while Google’s Android Pay has attracted 5m monthly users since becoming available in September 2015 and Samsung Pay has also attracted 5m monthly users, according to research by Crone Consulting which has been reported by Bloomberg... More
Wells Fargo adds support for Samsung Pay
Samsung Pay now includes support for Wells Fargo credit and debit cards, resulting in the mobile payment service supporting cards from 70 banks and credit unions covering more than 70% of the US credit and debit card market... More
148m consumers to make NFC mobile payments in 2016
Some 148m consumers will make NFC mobile payments this year, with Apple and Samsung accounting for nearly 70% of new customers, Juniper Research forecasts... More
Android Pay to make UK debut in March?
Android Pay will launch in the UK in March, according to The Telegraph... More
Nearly 1bn to use NFC payments by 2019
A total of 1.09bn people will be making mobile proximity payments globally by 2019, of which 939.10m will be made through NFC, Ovum’s new m-payments forecast reveals. The total transaction value of mobile proximity payments will grow from US$4.77bn to $141.21bn over the same time period. More
Connected car can find parking, reserve it and pay with a fingerprint
Car manufacturer Seat, Samsung Electronics and software giant SAP have created a technological alliance to develop connected car projects that could enable drivers to reserve car parking spaces and pay with a fingerprint using Samsung Pay. The companies are showing their ideas at Mobile World Congress this week. More
Visa expands Visa Ready Program to wider range of connected devices
Visa is expanding its Visa Ready certification program to include Internet of Things (IoT) companies such as manufacturers of wearables, automobiles, appliances and clothing so that secure payments can be added to a wider range of connected devices, the payment network has announced at Mobile World Congress. More
Samsung Pay hits 5m users and is set for global expansion in 2016
Samsung Pay now has approximately five million users in South Korea and the US who have processed more than $500m through the mobile payment service in the first six months since its launch. The service is due to be rolled out in China next month, Samsung has revealed, followed by a global expansion to Australia, Brazil, Singapore, Spain, the UK and Canada later in the year. More
Samsung Pay to launch in Russia?
Samsung Pay may soon be on its way to Russia, SamMobile reports... More
Korean banks back Samsung Pay
Korean banks are lining up to support Samsung Pay, including Shinhan Bank, KB Kookmin Bank, NH Nonghyup Bank and Industrial Bank of Korea, Korea Joongang Daily reports. “Currently, Samsung Pay only works with Woori Bank, but the exclusive contract between the two will expire next month, and now, more institutions are seeking to link up with Samsung Pay,” the publication says... More
Samsung Pay to make UK and Spain debut “very soon”
Samsung Pay will launch in the UK and Spain “very soon”, the head of Samsung Pay Europe has announced during the phone-maker’s European Forum 2016 event in Monaco... More
Mobeam update brings loyalty to POS scanners
Mobeam has updated its mobile coupon and offer app Beep’nGo to let customers use retail loyalty cards, gift cards and barcode coupons on their smartphone at checkout scanners for the first time... More
Samsung looks into vein authentication
A patent filed by Samsung describes how a sensor on a smartwatch or other wearable device could authenticate identity by reading the user’s vein structure... More
APCA explores security code for digital wallets in Australia
Members of the Australian Payments Clearing Association (APCA) are currently exploring the possibility of implementing a voluntary code of practice to regulate digital wallets in the country... More
Global mobile payment market to hit $620bn in 2016
Consumers across the globe will use their mobile phones to spend a total of US$620bn on all forms of mobile transaction this year, representing a 37.8% year-on-year growth from $450bn in 2015, research from TrendForce reveals. By 2017, total mobile payment revenue will reach $780bn, climbing to $930bn in 2018 and $1.08tn in 2019. More
CaixaBank will not support MST transactions when it launches Samsung Pay in Spain
Spain’s CaixaBank has revealed that it will not include support for Samsung Pay’s Magnetic Secure Transmission (MST) technology when the bank launches support for the mobile payment service in the coming months... More
Samsung Pay to let South Koreans pay in China and US
Samsung Pay users in South Korea will soon be able to make payments in China and the US using cards issued by South Korean card companies... More