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Samsung Wants To Compete With Google And Apple With Its Own Paid Offer
The South Korean technology giant Samsung wants to compete with Google and Apple with its own paid offer...
Yazar: Tom Roberts
Yayınlanma: 24 Eylül 2020 23:15
Güncellenme: 23 Kasım 2024 08:14
Samsung Wants To Compete With Google And Apple With Its Own Paid Offer
The South Korean technology giant Samsung wants to compete with Google and Apple with its own paid offer. The service with the name Samsung Pay will also start in Germany on October 28th, the company announced. The new service can be linked to almost any German bank account, said Samsung manager Thorsten Böker.
Samsung Electronics, which is currently fighting for the crown in the smartphone market with the Chinese Huawei group, does not cooperate with several banks like Apple or Google, but processes all payments via virtual Visa debit cards from Solarisbank. The amounts are then debited from the customer's bank accounts by Solarisbank.
"The trend towards contactless and mobile payments has accelerated enormously in the last few months," said the responsible Solarisbank manager Krishna Chandran. In order to connect Samsung Pay with a personal bank account, Solarisbank uses a new and simple customer identification method that does not require video identification or a branch visit, it said. The actual payment process is then similar to that of Google or Apple.
Installment payments are also possible
The South Koreans are comparatively late with their offer. Apple and Google have long had their own mobile payment services in their portfolio. Samsung is mainly competing against Google Pay because the US company's payment service is also available on Samsung smartphones. The larger smartphone payment service, Apple Pay, on the other hand, only runs on Apple devices. Google cooperates with some banks in Germany, but also offers PayPal as a billing method, so that virtually all bank customers in Germany can use the service.
In addition to Samsung Pay, Samsung and Solarisbank are introducing an installment payment service called "Splitpay". For payment amounts of 100 euros or more, customers could have these financed in installments with terms between three and 24 months, said Solarisbank manager Chandran. Visa as well as Samsung are involved in the Berlin startup Solarisbank.
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