How Samsung Pay, Apple Pay Stack Up on Mobile Payments Front

 
 
By Don Reisinger  |  Posted 2015-10-01
 
 
 
 
 
 
 
 
 
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    How Samsung Pay, Apple Pay Stack Up on Mobile Payments Front
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    How Samsung Pay, Apple Pay Stack Up on Mobile Payments Front

    Two arch-rivals are now battling in the mobile payments space. We look at factors that will determine how Samsung Pay might fare against Apple Pay.
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    Samsung Pay: Samsung Takes a Machine-Based Approach
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    Samsung Pay: Samsung Takes a Machine-Based Approach

    Samsung has an early advantage in the mobile wallet market by supporting more locations than any other provider. The reason is that Samsung Pay works with older machines that Apple Pay and Android Pay do not support. Although that advantage will wane over time as merchants upgrade their machines, it's an interesting move on Samsung's part that could help it get out of the gate early.
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    Apple Pay: A Look at Device Support
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    Apple Pay: A Look at Device Support

    Apple Pay's device support is a little stronger than that of Samsung Pay. The service, which has been available for about a year longer than Samsung Pay, works on iPhone 6 and up, as well as the as-yet launched iPad Pro, iPad Air 2 and the last two iPad Minis. Even the company's smartwatch Apple Watch supports Apple Pay.
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    Samsung Pay: A Look at the Device Support
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    Samsung Pay: A Look at the Device Support

    Samsung Pay doesn't have deep support for devices. In fact, the service is available on the Galaxy S6 Edge+, Galaxy Notes, and the Galaxy S6 Edge and S6. While that still includes millions of devices and future Samsung smartphones will add support for Samsung Pay, it's important to know which devices are supported before picking up a new handset.
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    Apple Pay: Support Is a Key Ingredient
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    Apple Pay: Support Is a Key Ingredient

    One of Apple's major advantages is that it has strong support from some of the largest retailers in the world. In fact, some of the biggest retailers, including companies like Walgreens and Dunkin' Donuts, all support the service. Better yet, Apple says that more companies are joining the parade as time goes on. Retailer support matters—and Apple has it.
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    Samsung Pay: A Look at How the Security Works
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    Samsung Pay: A Look at How the Security Works

    Samsung Pay comes with solid security all around. To access the service, users can swipe up from the home button to open Samsung Pay. From there, they can make a payment without pulling out their plastic by placing their finger on the built-in fingerprint scanner. According to Samsung, the actual credit card information is never passed to the merchant, keeping that important information safe from potential hacking at the retail level.
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    Apple Pay: Security Is Comparable
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    Apple Pay: Security Is Comparable

    Apple Pay and Samsung Pay are extremely similar when it comes to how they work to secure user privacy. When users are making a purchase with Apple Pay, they can place their finger over the Touch ID on their iPhone and make a secure payment. All the while, none of the credit card information is sent to the merchant. Touch ID is also used with in-app purchases to limit the chances of false purchases being made on a user's account.
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    Samsung Pay: Most Major Credit Cards Are Accepted
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    Samsung Pay: Most Major Credit Cards Are Accepted

    Although more credit card companies will need to be added in the coming months, Samsung has done a fine job of getting credit card support to this point. As of this writing, Samsung Pay works with cards from American Express, Bank of America, Citi, USBank, MasterCard and Visa. That should just about cover at least one card in the user's wallet.
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    Apple Pay: Expect Most Major Credit Cards to Be Accepted
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    Apple Pay: Expect Most Major Credit Cards to Be Accepted

    A slew of credit card and debit card companies offer Apple Pay support, including both large and small institutions, such as local banks, ranging from Bank of America to Salem Five Bank. Apple Pay even includes support for reward cards at major retailers. Apple Pay has exceedingly strong support, and it's getting better by the day.
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    Samsung Pay: There's No In-App Support Yet
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    Samsung Pay: There's No In-App Support Yet

    Interestingly, Samsung has decided to focus its service on in-store purchases, which means users won't be able to use Samsung Pay for online or in-app buys. It's possible—and indeed likely—that in-app purchase support will be added in the future, but for now, Samsung Pay is in-store only.
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    Apple Pay: There Is In-App Support
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    Apple Pay: There Is In-App Support

    One of the major differences between Apple Pay and Samsung Pay is that the former comes with full in-app support. So, customers who want to make purchases from an application can do so from their supported Apple products. Over time, Samsung will likely catch up, but for now, that could be a major factor in how people end up using the different solutions.
 

Samsung and Apple just can't seem to get out of each other's way. The two arch-rivals are battling for global smartphone supremacy, they have their own application marketplaces, they're in court over patents, and now, they're gunning for each other in the mobile wallet market. Samsung Pay launched on Sept. 28 in direct competition with Apple Pay. Both services allow users to make payments from smartphones at supported credit card machines, and there's a hope among the companies that they'll be able to generate significant revenue on each transaction they facilitate. The two companies take a different tack to mobile payments although both have similar security approaches. Apple Pay does have the slight advantage of being around about a year longer than Samsung Pay. The latter is still adding capabilities, such as in-app support—which Apple Pay already has. Although Apple Pay and Samsung Pay are fighting against countless competitors, they may ultimately have the best chances of success. We look at Apple Pay and Samsung Pay and some of the key factors that will ultimately determine their chances of success.

 
 
 
 
 
Don Reisinger is a freelance technology columnist. He started writing about technology for Ziff-Davis' Gearlog.com. Since then, he has written extremely popular columns for CNET.com, Computerworld, InformationWeek, and others. He has appeared numerous times on national television to share his expertise with viewers. You can follow his every move at http://twitter.com/donreisinger.
 
 
 
 
 
 

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