Samsung to launch Apple Pay rival – reports

16 Dec 2014

Consumer electronics giant Samsung appears to be putting deals in place with a mobile payments start-up to launch a rival system to Apple Pay sometime in 2015.

Much like Apple Pay, which was launched in the US earlier this year, the mobile payments system would allow Samsung phone owners with the software to pay for items through the phone’s NFC tag, using credit-card information stored on the device.

According to Re/code, sources within Samsung have suggested the start-up LoopPay, which offers a contactless payment service, will be providing the software behind the Samsung system.

With Samsung’s latest range of phones including a fingerprint scanning button, similar to Apple’s Touch ID system, it would seem likely this would form part of the Samsung payment system, while LoopPay will no doubt benefit from the significant amount of exposure that would come from partnering with Samsung, one of the largest Android phone providers in the world.

In October, Samsung created a rift between Apple and e-payments giant PayPal over the latter’s decision to partner with Samsung to allow payments through the phone using a PayPal account and the fingerprint scanner on the new Galaxy range of phones.

Its inclusion in a smartphone would seemingly follow LoopPay CEO Will Graylin’s confirmation that the software was going to be included in a smartphone some time in 2015. He had said its implementation would give it “massive penetration”.

So far, Samsung and LoopPay have refused to comment on the potential partnership but could be building up to an official announcement for the new year.

Mobile payment image via Shutterstock

Colm Gorey was a senior journalist with Silicon Republic