Samsung Pay vs Android Pay

In 2015, the introduction of various mobile payment systems with an increasing number of retailers embracing the service has contributed significantly to mobile commerce. Shopping without a wallet will enable consumers to make payments with just a quick tap.

Both Samsung and Google rolled out their own mobile payment systems with few similarities and differences. Android Pay will replace the existing Google wallet to take on Samsung Pay. How do these payment systems stack-up against each other?

Samsung Pay

Samsung launched its mobile payment system in South Korea on Sept. 20. It is expected to be rolled out in the US starting Sept. 28, followed by the UK. Samsung Pay uses the LoopPay mobile-payment platform to allow payments at point-of-sale terminals, making mobile payment more accessible to merchants and consumers. It works with both Near Field Communication (NFC) and a proprietary technology, called Magnetic Secure Transmission (MST), reports Android Pit.

All over the globe, more than 30 million retail locations are equipped with an NFC tap-to-pay or a magnetic stripe point-of-sale (PoS) terminal. Samsung Pay works with major payment networks like MasterCard and Visa. It also has an expanded partnership with American Express, Bank of America and US Bank.

Users can enter debit and credit card details into the Samsung Pay app before initiating the process. To make payment, the user just have to open the app, select the desired debit or credit card option, tap it to the NFC PoS terminal or magnetic-stripe retail terminal and authenticate transaction via fingerprint scanner. The mobile payment system is supported by Samsung Galaxy Note 5, Galaxy S6, Galaxy S6 Edge and Galaxy S6 Edge Plus.

Android Pay

Android Pay is available only in the US. Android Pay works with all NFC-enabled Android devices, which run on Android KitKat 4.4 or later on any mobile carrier. Users can make payment in a simple and secure manner through Android Pay at over one million locations across the US. In Android Pay, all required card information can be stored on the device itself like Apple Pay. Users can also use gift cards, loyalty cards and special offers on the phone.

The mobile payment system supports both credit and debit cards from payment networks like American Express, Discover, MasterCard and Visa. The company claims that it will work at more than 700,000 store locations including Aeropostale, American Eagle, Best Buy, Bloomingdales and GameStop. Google said that Android Pay will work with cards issued by major US banks and credit unions like American Express, Bank of America, Discover, Navy Federal Credit Union, PNC, Regions Bank, USAA and US Bank.

Android Pay is compatible with any NFC-enabled Android device. This can prove to be a huge advantage over Samsung Pay, which ropes in only few Galaxy smartphones. Meanwhile, Samsung Pay will be broadly accepted in most of the terminals as it supports both NFC and magnetic stripe terminals.

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