Samsung Pay is doing all it can to make things difficult for Apple Pay, and that could include bringing the fight to its own backyard. Samsung is said to be working on porting its mobile payment service to the iPhone — but there is a catch.
Samsung Pay is almost identical to Apple Pay, but it does have some advantages that give it the edge.
Not only do users get to take advantage of some sweet offers — like free headphones and gift cards — but Samsung Pay is also capable of communicating with traditional magnetic credit card readers, so NFC-equipped payment systems aren’t necessary.
Now Samsung wants to step up its fight against Apple’s service by bringing Samsung Pay to the iPhone, but it will be a watered-down version.
According to ET News, the service will be called Samsung Pay Mini, and it will be exclusively for online transactions. That means you won’t be able to take advantage of that magnetic secure transmission, or even NFC payments in retail stores.
It doesn’t sound quite as exciting now, does it? In fact, I can’t think of anyone who would bother setting up Samsung Pay on an iPhone just to use it to pay online when so many other services are already available.
But it will be interesting to see how the move plays out, and what Samsung will offer iPhone users to encourage them to try its service. Sources say Samsung Pay Mini will hit iOS in June, and could even arrive on Mac and PC later this year if it’s a success.