PayPal Founder and Samsung Executive Settled A Meeting To Discuss Samsung Pay

The vice chairman of Samsung, Lee jay-yong and PayPal founder, Peter Thiel settled a meeting yesterday which had the sole purpose to discuss Samsung's upcoming mobile payment system - Samsung Pay. As reported by the Korean media, the meeting took place at Hotel In, which is owned by Samsung in Downtown Seoul. The coming together was an hour long and dedicated to Samsung Pay, reporters say, "Samsung's Lee may have asked for business advice from Thiel, who is an expert in fintech. Expectations are loftier that Samsung will soon launch a new competitor to Apple tree Pay."

Samsung's Mobile Payment Might Be Ahead Of All Others

As nosotros have covered the Samsung's buyout of the well famed LoopPay, this might convince you Samsung'south long launch of the new mobile payment system, which is recently seeded in the Seoul meeting. Samsung's solution has a beauty to piece of work with a magnetic strip debit or credit carte du jour which are accepted all over the world on more than than 10 one thousand thousand outlets. This system would make its debut with Samsung'due south new flagship of the year, the Galaxy S6.

Unlike Apple tree Pay, which requires terminals of POS to be equipped with sole dedicated systems, Samsung might exist well alee and dispersed all over the earth. This can be the reason that the uptake is irksome in case of Apple - New terminals are hard to disperse if you begin from scratch. Samsung is completely on a unlike road for the provision of the look alike mobile payment system, LoopPay.

LoopPay LoopPay could be the nearly widely used mobile payment organisation from the time of its arrival and Apple tree Pay would take some time to sink in. Along with this, Apple tree Pay could experience a really tough time trying to penetrate the market place where Samsung already rules. Yet, these are a mere before hand assumption every bit weather of market vary in accord with technology and branding. Simply to tell y'all the truth, fifty-fifty Google with its 'Google Wallet' was trapped in frenzy for a while when speculations for Samsung Pay were made. In a panic and an unrest state, Google forced itself to acquire Softcard besides, so it can go along up with the changing trends of modern mobile payment systems. I'm sure yous enjoyed a bitter nether the table rivalry of the greatest tech giants. If you want more than news and rumors, leaks and reviews do stay tuned. How exercise you guys feel about Samsung Pay? Should Apple be worried of all the speculations well-nigh Samsung Pay? Let us know in the comments below.