Samsung may have indirectly revealed the launch month for its Galaxy Note 5, which now is believed to be September. The hint was dropped by the company’s executive vice president, Rhee In Jong, who in a recent investor conference, claimed that Samsung Pay would be launched along with company’s next flagship smartphone. Though, the company has not confirmed the name of this phone, many are predicting it to be Galaxy Note 5.
Galaxy Note 5 coming along Samsung Pay?
Previously, the mobile payment software was scheduled for release this summer, but its launch has been further delayed. A report from Bloomberg claimed that Samsung Pay has been delayed from July to September. So, with Jong claiming the payment service to come along with Samsung’s next high-end mobile device, it can be inferred that its Galaxy Note 5 will also make a debut in September.
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Launching Samsung Pay with its latest smartphone could be beneficial for the company as Apple has demonstrated that launching digital wallet software with an eye-catching hardware is a lot easier to sell. However, the delay in the release could cost Samsung as other companies look to enter the mobile payment platform. Apple already introduced its Apple Pay service months ago, and Google also announced to soon launch its Android Pay. If Android Pay arrived in the market before Samsung Pay, then the Korean smartphone maker could lose more market share of the mobile payment industry.
How Samsung Pay is better than rivals?
Samsung Pay is supported by Loop Pay technology, which utilizes magnetic-stripe card readers that are already present at the checkout counters. The Korean company believes that its payment system is better than Apple Pay, as it functions more like a credit card. Apple Pay service is based on near field communication (NFC) technology that requires specific NFC readers to function. Presently, there are 220,000 locations in the US that support Apple Pay. Though, taking into account the fact that there at least 12 million checkout points in the US, Apple’s mobile payment service is still a long way from being widely accepted in the country.
Google’s Android Pay is also expected to be based on NFC technology. But, the search giant has claimed that its pay service will be accepted in more than 700,000 locations, and will be compatible with over 1,000 apps. According to experts, Android Pay seems more beneficial than Apple Pay, as the software is compatible with a number of devices and requires a lock-screen password instead of a fingerprint to function. Moreover, it also provides users with reward points on every purchase done through it. Thus, Android Pay could pose a strong competitor to Samsung’s payment service. But, the Galaxy manufacturer suggested that the difference in the technologies will allow both Android and Samsung Pay to co-exist.