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Alternative Payment Solution: Samsung Pay

Alternative Payment Solution: Samsung Pay


  • Products Id :- VR1173MR
  • |
  • Pages: 14
  • |
  • July 2016
  • |
  • |
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Executive Summary

Samsung Pay is a mobile payment solution with global aspirations, launched by Samsung Electronics (Samsung) in August 2015. At present the solution is available in seven markets outside South Korea: the US, China, Spain, Singapore, Australia, Puerto Rico and Brazil with plans to launch in the UK, Malaysia, Canada, Russia and Hong Kong by the end of 2016.

Samsung Pay is available on the following Samsung products: Galaxy S6, Galaxy S6 active, Galaxy S6 edge, Galaxy S7, Galaxy S7 active, Galaxy S7 edge, Galaxy Note5 and Galaxy S6 edge+. The solution is supported by all major card schemes, including American Express, Visa, MasterCard and China UnionPay, as well as 440 international and regional banks and credit unions.

Samsung Pay is the first mobile payment solution that supports near field communication (NFC), magnetic secure transmission (MST) and barcode-scanning in a single solution.

In addition to in-store payments, it also supports in-app payments, cash withdrawals at ATMs and also allows integrating transport cards into the digital wallet.

Summary

The report provides information and insights into alternative payment solution Samsung Pay, including:

Detailed insight into its business and geographical presence

Comprehensive coverage of its products and services

Comparative assessment with key alternative payment competitors

Information on its performance, including its revenue model

The company's important events and milestones

Scope

This report provides a comprehensive overview of alternative payment solution Samsung Pay, including its operations, history and geographical presence.

It provides an overview of products and services offered, and explanations on how they work.

It provides details of financial performance, including revenue models.

Reasons To Buy

Gain insights into Samsung Pay's business operations, geographical presence and key events.

Gain insights into its product portfolio and revenue model.

Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Key Highlights

Samsung Pay was launched in South Korea on August 2015, and expanded its services to the US and China in September 2015 and March 2016, respectively. It expanded to Spain, Singapore and Australia in June 2016. In July 2016 it was introduced in two new markets: Puerto Rico and Brazil.

Samsung Pay supports all major payment networks, including American Express, Visa, MasterCard, China UnionPay, and around 440 international and regional banks and credit unions.

Samsung collaborated with a number of international POS vendors, including Verifone, Ingenico, First Data and Clover, PAX Technology, Equinox, ID Tech, MagTek, USA ePay and OTI Global to drive the adoption of Samsung Pay at merchants worldwide.



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Overview

Geographical Presence

History Milestones

Key Acquisitions

Competitor Analysis

Performance Highlights

Revenue Models

Products and Services

Significant Events

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Samsung Pay

Samsung Pay, Alternative payment, In-app payment, In-store payment, Cash withdrawal, Transportation cards service, Online payments, Mobile app, Near field communication, Membership and loyalty cards,


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