Samsung doesn’t want to compete with Apple and Google only on the market of smartphones! At least this is what the latest rumors say, because it looks like the South Korea based company is willing to launch its own mobile payment system which wants to make competition of consecrated ones such are Apple Pay, Google Wallet and Pay Pal.

Customers may be skeptic

Because of these giants from the market, specialists are skeptic when it comes to Samsung’s initiative, but they also believe it is not too late for them to launch such a system. Still, potential customers might be very doubtful at least at the beginning mostly because of security reasons. If they already use one or more of the three services mentioned above it is hard to tell if they consider risking and go for Samsung in the case that they will enter the competition.

The brand might save the idea

Even though rumors are quite strong regarding this problem, the officials of the giant smartphone producer declined to talk about this fact, so nothing can be by any means official at this point. However, it looks inevitable and that is why we are talking already about potential customers. The way through its lack of experience in this domain may be for Samsung its name, its brand in fact and the supposition that this company couldn’t just launch an unreliable system. 

Are they using LoopPay already?

Mostly because rumors go further and say that Samsung already uses LoopPay, a mobile payment startup based in Massachusetts. LoopPay says it is already at 10 million retail locations and its technology turns payment terminals into contactless readers. This might be a big starting advantage, but let us not forget that Apple, for instance, build up consumers loyalty in many years, thanks to services like iTunes which has now 800 million users! Let us wait and see if it is still room on the market for Samsung!


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