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Not content with only launching mini versions of their phones, Samsung seems to be planning to release Samsung Pay Mini – an online-only version of their payment system. The service is reported to go live sometime in June in South Korea.
Since the service does not require any special hardware to work, Samsung plans to bring it to a wide variety of devices, including all Android devices and iPhone.
“By releasing SamsungPay Mini, Samsung Electronics has completed a versatile platform that absorbs online and mobile payments.” said a high-ranking representative of a card company. “Besides of online payments, SamsungPay Mini will be a catalyst for Samsung Electronics in tying together variety of additional businesses.”
The report notes that while Samsung Pay has been supporting online payments since February, it has failed to meet Samsung’s internal goal as less than 20% transactions go through it. This is due to the complicated process, which the Korean company is looking to simply with Samsung Pay Mini. It remains unclear if Samsung ever intends to expand Samsung Pay Mini to beyond South Korea or not.
Samsung Pay is currently available in South Korea, China, and is expected to expand to Singapore and Australia soon. The payment service is only supported by Samsung’s high-end flagships including the Galaxy S7, Galaxy Note 5 and Galaxy S6 edge+.
[Via ET News]
