Tag: samsung

Samsung teams with Visa and MasterCard for its mobile payments service

| March 11, 2015

Samsung Pay will have the backing of both Visa and MasterCard

Samsung is beginning to partner with large financial organizations, such as MasterCard and Visa, in order to improve the launch of its new mobile payments service, called Samsung Pay. By teaming with these companies, Samsung may have a greater reach in markets where mobile payments are thriving. Other companies, such as Apple, have done this for the launch of their mobile payments services, and launch partners for these services have proven to be quite powerful allies.

New mobile payments services uses Magnetic Secure Transmission technology to make transactions more convenient

Samsung Pay has been designed to allow consumers to make secure mobile transactions. The service makes use of NFC technology, which is quite common in the mobile payments sector, and technology called Magnetic Secure Transmission. This allows Samsung to be used at locations that do not have NFC support, which will make it easier for consumers and merchants to participate in mobile commerce from any device that is being used.

Samsung believes its mobile payments service will change the way people shop and pay for goods and services

Mobile Payments Partnership - MasterCard, Visa & SamsungThe company believes that its new payment service will change the way people pay for goods and services. This has been a common belief in the world of mobile commerce, largely because consumers are beginning to favor their mobile devices over more conventional forms of commerce. Samsung may be able to deliver on its hope to revolutionize mobile commerce through its partnerships with Visa and MasterCard. Both of these companies have extensive experience with mobile payments, especially when it comes to making transactions secure.

Visa and MasterCard may help make mobile payments more secure

Mobile security is one of the major challenges currently facing mobile payments. Because the sector is relatively young, it has not had time to establish appropriate defenses against those that would seek to exploit a consumer’s financial information. With the help of Visa and MasterCard, Samsung Pay may be able to offer a secure solution for those that are interested in mobile payments.

PayPal acquires mobile payments firm Paydiant

| March 5, 2015

Paydiant acquisition will give PayPal access to new technology and an extensive list of customers that make use of this technology regularly

PayPal has announced that it will be acquiring Paydiant, a mobile payments firm. The acquisition will give PayPal immediate access to those that use the technology that has been developed by Paydiant. This includes Subway and the retail consortium Merchant Customer Exchange. The consortium is comprised of companies like Target, Wal-Mart, and Sears, and access to this group could further expand PayPal’s position in the mobile payments space.

Paydiant has established a commanding presence in the mobile commerce space because of its innovative technology

Paydiant specializes in mobile technology, and has developed framework that supports mobile payments made through applications, both online and in physical stores. This technology supports the use of codes that function as ways to initial a transaction. Adoption of Paydiant’s technology has been relatively slow, but many prominent companies use the technology to engage mobile consumers in ways that were never before possible. This has made Paydiant a strong force in the mobile payments field, which is becoming increasingly crowded and competitive.

PayPal will face strong competition from Apple, Google, and Samsung in the coming year

PayPal acquires mobile payments firmPayPal has established a strong presence in the mobile field, having supported mobile consumers and businesses for several years. Later this year, the company will branch off from its current owner, eBay, and become a standalone entity. The company will also be in direct competition with Apple and Google, both of whom are trying to establish dominance in the mobile payments market. Samsung will also be competition for this position, having recently announced its plans to make an initial breach into the mobile commerce market later this year.

Future projects with Paydiant could help PayPal find more success in the mobile payments space

Paydiant’s technology and extensive customer base may help PayPal compete with others in the mobile market. The two companies are expected to work together to develop new initiatives that are based on Paydiant technology and PayPal services. Details concerning future plans have, of course, not been disclosed at this time.