Posted 06/04/2015 at 8:19 AM
Posted 2 years ago
Samsung is dealing with another setback in its mission to compete heavily with Apple and Google in the mobile payment services battle.
Reversing course from earlier statements, Samsung Electronics Executive Vice President Rhee In Jong said that Samsung Pay will make its debut along with its next mobile device in September.
Presumably, that device will be the next version of their popular Galaxy Note smartphone.
The company had previously confirmed a July release for Samsung Pay at the beginning of March.
Jong went on to say that they wish to expand the service past the Galaxy Note and Edge to lower-end devices as they increase their presence in China, Europe and South America throughout the rest of the year.
Samsung had been positioning itself for a strong entry into the world of mobile payments and e-commerce by first partnering with MasterCard and Visa and acquiring LoopPay, a company that enables retailers to accept payments via smartphones.
However, the recent debut of Android Pay by Google and Apple’s already established mobile payment service could possibly cost Samsung valuable ground depending on what they will offer once Samsung Pay finally announces its debut to the world.