Slashdot Mirror
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.
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.
Because they want a cut. Because they want the analytics. Because they want the market share. Because they want to tie you to their platform.
They don't give a crap if someone else's app runs on their phone .... they want the money, and the data, and customer lock-in if possible.
Do you seriously need to ask? Why does a corporation do anything besides "branding" and "money"?
Lost at C:>. Found at C.
"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?
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.