Samsung launched NFC payment service in China (with UnionPay)

[Nineshadow]

UnionPay, China's largest card company, has launched its near-field communication (NFC) payment service with Samsung.

 

The Shanghai-based card company said UnionPay's NFC payment system can be used by more than 3.6 million Samsung smartphones in China, including the Galaxy Note 4, Galaxy Note 3, and Galaxy S4. Samsung is the first company to cooperate for NFC payment service with UnionPay.

 

UnionPay users can immediately use NFC features of their Samsung phones after they save card information through mobile applications.

 

Samsung expects that its NFC service will secure a large slice of Chinese payments, as UnionPay's market share of offline payment is around 80 percent.

 

A Samsung spokesman said, "We'll cooperate more with UnionPay, not just for NFC payment, but all financial services that use a mobile device."

 

According to research from the Samsung Economic Research Institute, when card companies cooperate with smartphone makers including Samsung and Apple, the card company will secure a lesser commission than from using credit cards. However, the widespread use of mobile devices still makes it a worthwhile endeavour for both handset makers and card firms.

 

The Suwon, Korea-based company's spokesperson declined to comment on commission with UnionPay.

 

SOURCE

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Apple Pay...now you have a competitor : Samsung Pay.In China at least...

[snowComet]

actually there are rumors that Apple Pay will soon be launched in China as well...

http://www.businessinsider.com/apple-pay-is-coming-to-china-2014-9

 

Another Apple vs Samsung war....

[OriginalPromise]

GO SAMSUNG

[Tech_Dreamer]

Your move Apple.. Oh wait , they did make the first move :mellow:    *grabs popcorn*

[LAwLz]

actually there are rumors that Apple Pay will soon be launched in China as well...

http://www.businessinsider.com/apple-pay-is-coming-to-china-2014-9

 

Another Apple vs Samsung war....

I don't think this will become a war since the only way NFC payments will work is if everyone has it and it works for everyone. No store will want to replace their terminals just to support 1 phone brand.

It would be really confusing for consumers to see someone with a Samsung phone pay using NFC, but they with their LG can't, or someone with an HTC paid with NFC but someone with an iPhone couldn't. We need 1 standard that everyone follows and that works the same on all platforms. The way Apple and Samsung are going at it seems bad to me. They shouldn't reach out to banks and make contracts with them. Banks should reach out to a non-profit standardization body asking how to implement their free and open NFC payment standard, and as soon as the bank has implemented that it should work on all phones.

That's how I think it should be implemented, not on a bank to bank and phone to phone basis.

 

Your move Apple.. Oh wait , they did make the first move :mellow:    *grabs popcorn*

Well that's not true on any plane.

1) Samsung have had NFC payments for longer than Apple.

2) Apple has not launched in China yet (there is a rumor about it coming in the future).

[Tonylu1595]

Could you set color to default?