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Samsung Set To Launch Mobile Payment System With Galaxy S6 At MWC
dkatana writes: Samsung will introduce the Galaxy S6 on Sunday, March 1st, at the Barcelona Forum, one day before the Mobile World Congress officially starts. Serious rumors from different sources indicate that the Korean giant will also introduce its version of a global mobile payment system, which will likely have the moniker "Samsung Pay." Samsung can't afford to give away its position in the smartphone market, and a payments system tailored to customers is a key factor.
I wonder how they came up with it...
Sorry, but there isn't a single player in the "pay with your phone" market I trust. Nor will there ever be
Neither to safeguard my financial data, nor to not be complete douchebags with the information they'd get from it.
Sorry Samsung, and Apple, and Google, and Microsoft ... and the whole lot of you ... giving you access to my credit cards sounds like a Dumb Fucking Idea(tm).
And the carriers who muck about with the phone to lock it to them and inject their own crap? I trust them even less.
Lost at C:>. Found at C.
As craptastic as Samsung's touchwiz interface is I can only imagine how bad their ability to handle financial transactions can be. Sorry Samsung - stick to hardware and let Google handle the software.
"Samsung can't afford to give away its position in the smartphone market, and a payments system tailored to customers is a key factor."
Samsung has been losing marketshare because customers HATE being assaulted with Samsung's crappy substandard "me-too" crapware.
This is just more of the same. They just don't get it.
retrorocket.o not found, launch anyway?
or is it an old and obsolete phone and i have to be a good consumer and buy a new phone with the newer NFC
Please remember to SPay your retailers...
As the other responder noted, using my phone to pay means the store does not get my CC number, thus a hacker cannot ever get it...
But even better, unlike a card in my wallet, if I lose my phone someone cannot use the phone to pay for anything, because it's based around the fingerprint reader.
There's also the aspect that using the phone is more anonymous for simple store payments (a teller never gets my full name unlike with a card), though frankly I doubt that matters to almost anyone.
Physically it's no LESS convenient to pay by phone than it is with a card, which is the most important aspect (people would not use it if less convenient).
"There is more worth loving than we have strength to love." - Brian Jay Stanley
NFC is just a mechanism to conduct a payment by, it's not worth much unless you have the other security aspects in place to make sure people can't easily clone your phone payments or use a stolen phone to pay for things.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Apple comes to the S6 presentation with a Samsung Pay-compatible terminal: "Legal bill: $900M. Pay now?".
No that I trust, say, Google - but, Samsung? The one thing you can trust Samsung to is to screw its customers in order to push them into upgrading whatever Samsung product they have. I have not Samsung phone, and I know my next flat screen TV won't be a Samsung one.
Going by how they turned the NX1 into an almost brand new camera with their latest firmware I'd say it'll be a long time before Samsung is out off the phone market.
by TheSpoom (715771) Uncaring Linux user here. I have nothing to add to this but please continue. *munches popcorn*
Typical samsung! They should just close their devices division and focus on semiconductors, which they actually do well.
The biggest problem with these contactless payments, bigger even than trust, is that it separates you mentally from your money. It makes it easy for people to fail to develop and maintain responsible financial habits. It softens the blow of spending money. If that blow doesn't hurt, then you can imagine what happens to the thought of security. The closer you are to the cash, the more you pay attention to its security! Someone takes $20 out of your wallet, you get upset. Someone skims your card, you don't even notice, and if you ever find out, you hope the card company will just reverse the charge. What incentive do you have to care anymore?
When you pay cash, you see the actual money leave your hands. A check is still symbolic in that you're giving them something permanently. When you pay with a debit card, you start to really lose the connection to your money. You put it back in your wallet when you're done. We have had contactless payments for a while and when you use it, you don't think, just buy. I used to have a Paypass enabled debit card and all I had to do was wave my wallet towards the payment terminal to pay. Or if it was in my coat pocket, just wave my coat at the terminal.
The overwhelming message from retailers is: Don't think about your money, just spend it! We'll make it easy! Consumers like easy.
Of course any mobile device manufacturer is all too happy to get involved with that. If banks made cell phones, they would be playing in this space too.
You state it is no less convenient, but fail to provide a good basis.
Pretty confused here, it's obviously just as easy to pull out a phone than a credit card.
Indeed it's slightly easier to pull out a phone since usually a card means pulling out a wallet from which you have to pull a card from a slot.
The actual physical act of pressing the fingerprint reader is about equal with running a card through a slot, and frankly a little more sure since mag stripe readers are often in a state of failing.
It's definitely easier than chip + PIN based card because there's no PIN to enter.
So I guess on further reflection phone payment is at least slightly easier, ranging to much easier.
I contend the road to phone payments, particularly in the US, will be a longer and rockier one than the hype indicates.
I don't think you understand how appealing it is once someone sees someone else doing this.
Not to mention how nice it is to see charges come up in notifications, and be able to see past charges at a glance. Yes you can get that through banking websites or apps but it's actually WAY easier to get a CC into ApplePay than it is to use ANY banking website to get details about your account. How insane is that? The very company that distributes your credit card is incapable of getting your account details visible as easily as Apple can.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
We invite Apple on stage and present us with the legal bill for the last lawsuit. I'll place my finger here and with a swipe, I just sent 1 billion dollars to Apple. See how simple it is?
The biggest problem with these contactless payments, bigger even than trust, is that it separates you mentally from your money. It makes it easy for people to fail to develop and maintain responsible financial habits. It softens the blow of spending money. If that blow doesn't hurt, then you can imagine what happens to the thought of security. The closer you are to the cash, the more you pay attention to its security! Someone takes $20 out of your wallet, you get upset. Someone skims your card, you don't even notice, and if you ever find out, you hope the card company will just reverse the charge. What incentive do you have to care anymore?
You don't think the same issues happen with cards vs. cash? Yeah, I go through stores already today just putting stuff in the cart, swiping at the checkout, collecting the receipt and never even looking at the bill until well after the fact (and sometimes never even then).
I manage my budget after the fact - hey that spongecake we bought was completely uneaten - never buy again. That TJs cold-brewed coffee habit is expensive but more cost-effective than buying beans and cleaning out the coffee machine... etc, etc.
Fact is, cards have already altered our spending habits and contactless does very little to modify that - it's just a nice shinier petina over the same rubric.
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Apple Pay is a fancy term for the EMV payment standard - there's no magic in it, and it's just implementing what the payment industry says is how they want to do it. It's why it "just works" in a lot of stores because the standard was done a while ago and implemented.
The only difference is that with Apple, it is simple and it works. If you doubt that, then look at how long a lead Google had with Wallet and how as soon as Apple Pay appeared, it's dominated the usage of contactless terminals.
Sure, Apple pushed it - but if it was a total pain, people wouldn't do it. There's always the fallback of actually using your card.
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Unless that phone is the behemoth iphone 6 plus.
The 6 plus fits in my jeans pocket just like every other cell phone I've ever had.
"There is more worth loving than we have strength to love." - Brian Jay Stanley