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Following Poor Performance on Galaxy Phones, 'Samsung Pay Mini' Reportedly Heading to iOS

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samsung pay 1Samsung is planning to launch its mobile payments service Samsung Pay as a downloadable iOS app, according to a new report from South Korea's ETNews. Called Samsung Pay Mini, the app will allow iPhone users to enter their credit card information to make payments within online stores.

Not many details were given about the initial launch, but the app seems to be limited to South Korea and available only as an online payment option with no retail support yet. The rollout in South Korea could begin as early as June.

Samsung's reason behind introducing support for its mobile wallet onto iOS is reportedly due to Samsung Pay's poor performance on the company's line of Galaxy smartphones. An expansion to Apple's iOS ecosystem is hoped to help bolster Samsung Pay usage beyond its current limited scope.

“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.”

According to sources within the IT and financial industries, the company plans for the new app to be free and work on all Android devices as well as Apple's iPhone. During the initial launch in South Korea, Samsung Card, Lotte Card, and Hana Card have all agreed to support Samsung Pay Mini. KB Card and a few other companies have mentioned interest in joining the service, as well, but beyond South Korea, there was no mention of a wider Samsung Pay Mini launch.

On Apple's side of the mobile payment market, the Cupertino company has been expanding Apple Pay's presence in multiple countries ever since its launch in 2014. This morning, Apple Pay VP Jennifer Bailey described how the company is "working rapidly" to get its mobile wallet into "every significant market" Apple is currently involved in.

Related Roundup: Apple Pay
Tag: Samsung Pay
Related Forum: Apple Music, Apple Pay/Card, iCloud, Fitness+

Top Rated Comments

benjitek Avatar
benjitek
129 months ago
For people who find ApplePay excessively intuitive and easy-to-use, just install Samsung Pay.
Score: 30 Votes (Like | Disagree)
M
matt3526
129 months ago
Why would anyone ever want this? People will either use Apple pay or Android pay. Who is going to unlock their phone and open an app to pay?
Score: 18 Votes (Like | Disagree)
Z
zubikov
129 months ago
Why? I'm really trying to be non-judgemental about this and legitimately wondering what is the point? If I have an iPhone, why would I download an external app, give them my credit card number, and use some convoluted payment scheme to only pay online using a third party app? Most credit cards already offer virtual credit card numbers if safety is your concern, and honestly at that point i'd be more worried baout trusting Samsung with my data given how their smart TVs behave.
Score: 13 Votes (Like | Disagree)
dannyyankou Avatar
dannyyankou
129 months ago
Actually laughing out loud
Score: 7 Votes (Like | Disagree)
penajmz Avatar
penajmz
129 months ago
And the point of this would be?
Score: 6 Votes (Like | Disagree)
E
EricTheHalfBee
129 months ago
I see people mentioning Samsung Pay works on almost all terminals.

That's true only if your bank supports it. Apple Pay is well over 1,000 banks while Samsung Pay was on around 60 last time I looked.

More and more merchants are adding NFC. The decision a bank faces is do they put in the effort to support something (MST) that's on its way out? Or work at getting merchants to switch to NFC terminals? MST is a dead-end technology - we just don't know how long it has.
Score: 3 Votes (Like | Disagree)
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