In an attempt to rival the Apple Pay, Samsung has reportedly incorporated a mobile payment platform similar to what Apple is offering on its iPhones, in the Korean tech giant’s upcoming flagship devices, the Samsung Galaxy S6 and the Samsung Galaxy S6 Edge.
Deriving its report from a South Korean publication called DDaily, Samsung’s upcoming phone will reportedly come with LoopPay integration that shall enable users to enjoy mobile wallets on their phones for mobile enabled payments, reports Tech of India.
Samsung has yet to confirm this so-called latest special feature of the upcoming Samsung Galaxy S6 and the Samsung Galaxy S6 Edge.
There are rumors that Samsung will directly compete with the Apple Pay by calling its mobile payment platform as Samsung Pay.
The same rumors also cited that the Korean company is now in the midst of negotiations with LoopPay so that Samsung could integrate the technology into its upcoming smartphone and tablet line.
Advantage of the LoopPay over the Apple Pay
In terms of advantage of the LoopPay, which Samsung plans to rename as Samsung Pay once it gets into its flagship devices, the technology of the mobile payment system allows it to communicate with regular magnetic stripe credit card readers so it means that it shall work in more locations, and thus more vendors, compared to the Apple Pay.
To operate the LoopPay on a smartphone or mobile device, users just need to plug a special dongle into the device or use a separate fob. There is also the special smartphone case that charges the phone and talks to credit card readers.
Apple Pay can only work in a merchant store if the merchant has a near field communication (NFC) terminal that can work with the iPhone 6 and the iPhone 6 Plus. That is the reason why a large number of merchants, particularly in the US, does not support or is incapable of supporting the Apple Pay.
The latest flagship devices of Samsung including the Galaxy S5 and the Galaxy Note 4 comes with a PayPal integration that can work through a fingerprint sensor embedded in the device’s home button. But PayPal is not accepted in many stores so it has limited coverage too.
Unveiling of Flagship Smartphone
Samsung is now preparing the groundwork for the launching of its upcoming flagship smartphone, the Samsung Galaxy S6, towards the end of March.
While earlier reports said that Samsung was planning to do the launching of its latest flagship smartphone at the Mobile World Congress (MWC) 2015 in the first week of March since it also launched the Samsung Galaxy S5 in the same event last year, the Korean tech company may have thought otherwise.
Unveiling the device at MWC 2015 may not get as much attention as possible as coming up with separate event specifically for the launching. Samsung expects that there would be a deluge of product launchings at the event to be held in Barcelona, Spain.
The Samsung Galaxy S6 is touted to be far better than the unimpressive Samsung Galaxy S5 which the Korean company launched last year.