Fashion
South Korean technology giant Samsung Electronics is expanding its mobile payments service to three additional countries, including Singapore.
The Korean company made the announcement during its press conference at the Consumer Electronics Show on Tuesday, held ahead of the show’s official opening. Samsung Pay allows consumers to pay at retail locations using their smartphones.
It also confirmed the news in a Twitter update. “I am happy to announce we’re adding Australia, Singapore, and Brazil to the Samsung Pay roadmap,” said Samsung Electronics America President and COO Tim Baxter. No official date was announced for the three launches.
The service launched last year in South Korea and the United States, with plans to enter other markets, including China, Spain and Britain.
Samsung hopes the payments service will set its phones apart from competing devices, helping to protect market share against rivals such as Apple and Huawei Technologies and compel users to pay a bit more for the convenience. Apple announced in October last year its competing Apple Pay service was also coming to Singapore this year.
Samsung has reported a strong response to Samsung Pay in its home country and the US, though the service does not generate revenue on its own for Samsung. An early advantage for Samsung Pay is its compatibility with magnetic stripe card readers already in wide use among retailers. In comparison, Apple Pay requires retailers to install new equipment supporting near-field communication technology.
