Samsung is working with MasterCard to augment new mobile payments service
Samsung has announced that it has partnered with MasterCard for its new mobile payments platform. Later this year, Samsung intends to launch its first mobile payments service, called Samsung Pay, in Europe. The company will compete directly with Apple, which plans to launch its own payment service in the European market later this year as well. With MasterCard, Samsung believes that it will have an edge in this competition and could limit the success that Apple sees in the region.
Rivalry between Samsung and Apple bring benefits to consumers
Both Samsung and Apple have had a rivalry for years, with neither establishing a significant lead over the other. This competition has been a benefit for consumers, as both companies have introduced new technology into the mobile space that has proven to be well received among consumers. This rivalry has also lead the companies to compete in the mobile payments space, as they seek to engage an ever evolving consumer base that is now looking for new ways to shop for and purchase products online and in physical stores.
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MasterCard will help improve the experience of Samsung Pay
Samsung will be making use of the MasterCard Digital Enablement Service, which will allow Samsung Pay users to activate their credit, debit, and other payment cards on their mobile devices. The system will also provide consumers with added security when they make mobile purchases. MasterCard has made significant strides in mobile security in recent years, especially when it comes to mobile transactions. This security expertise may help Samsung Pay appeal more to consumers.
Both Samsung and Apple seek to win the hearts of consumers
Samsung Pay is currently being tested in South Korea, where mobile payments are flourishing among consumers. Apple has already launched its mobile payments service in the United States, where it has received strong support from consumers and retailers alike. Europe may become a major battlefield for both companies as they seek to establish mainstream success for their new services among consumers.