Samsung Pay to launch in India soon: Reports
Mobile payments is in that phase right now when every company is trying to have their own implementation because there’s no standard. Apart from the numerous apps that handle payments, there are 3 major Mobile payment systems viz. Apple Pay, Android Pay and Samsung Pay. All of them essentially do the same job. The only barrier now is the number of markets they operate in. I don’t know what took them so long to realise that India was left….
The Galaxy S7 got the Nougat update recently, and there’s a notification which teases “the future of payments is coming soon!” This should be coming as the Samsung Pay mini app. The operations in India come as a partnership with American Express and more partners should be following.
This seems like a god time to launch this, as after the recent wave of Demonetization in India, there was a great influx in the number of Mobile payment solutions. Though being an Early adopter could mean that Samsung has a hard time with vendors adopting this, as they have already started moving away from the existing gateways like PayTM and FreeCharge.
The only way I see this being successful is that the app is available for all. Adoption with vendors is something that everyone is struggling with. Add the lack of smartphone users, inconsistent data speeds and major tech illiteracy and it becomes evident how risky this move could be.