Paying for goods and services is about to get easier, if you’re a Samsung smart phone user. The electronics company says that the first month of the roll-out of its mobile payments system in South Korea went even better than expected, with more than 1.5 million transactions conducted for more than $30 million of payments.
In the U.S. the company’s payment system is scheduled to debut on September 28, though the tougher competition from Apple and Google in the states is expected to make the road more challenging for Samsung, according to a CNET story. The head start the two companies have are a major advantage, since they have already formed alliances with major banks, credit card companies and merchants.
However, Apple and Google systems rely on the use of near-field communications (NFC), protocols that allow devices to communicate via radio when they touch. Samsung devices, by contrast, will not require NFC technology, allowing retailers to accept Samsung’s payments without upgrading their systems. Also, Samsung will be targeting current Samsung users, as their pay system will be compatible with four of their devices: the Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+ and the Galaxy Note 5.
Samsung expects to follow its U.S. debut with expansion of its payments system to the UK, Spain and China.