Samsung’s delayed payments service is a hit in South Korea, with $30 million (£19 million) or 1.5 million transactions in the first month alone. The company also confirmed it is on schedule with its launch in the United States, after a few delays.
The uptake is smaller than it could be, since Samsung Pay is only available on a set few devices. Using the payments service is also quite revolutionary compared to Apple Pay or Android Pay, as it doesn’t require a contactless card reader.
This means Samsung Pay should be usable in 90 per cent of all stores in the US. Apple Pay is only available in 10 percent across the US, despite the rise in support for contactless.
Samsung’s payment service will also skip the regulation currently imposed on contactless. In the UK, that means Galaxy S6, S6 Edge, S6 Edge Plus, and Galaxy Note 5 will be able to spend over £30 at any store.
The US will receive Samsung Pay support earlier than the UK, but Samsung has the UK in its third tier launch, alongside Spain and China. It plans to push the update and explain to users how Samsung Pay differs from other payments services.
Depending on its reception in the first month, Samsung Pay could become the payment service of choice or another mid-tier service, used by techies but not by all consumers.
The ability to pay through all card readers is a massive advantage for Samsung, and it needs to tell customers that this is impossible on other payments services