Samsung rolls out Samsung Wallet payment settlement application in US, Korea
“Samsung Electronics releases Samsung Wallet, payment settlement application optimized for mobile environment, on the 22nd that users can safely and conveniently pay money online once their credit card is registered. Smart phone users can simplify the safe settlement process with OTP (One Time Password) certification after the credit card number and PIN number are registered.”
The above cut-out was from a press release by Samsung earlier today regarding their new payment service called Samsung Wallet.
It only appears the application collects and saves credit card information, which users can then use to pay for goods and services at online merchants, verified by a one-time password or PIN without needing to enter their credit card information again.Samsung Wallet will face stiff opposition as it heads into the rest of the world as Google Wallet and Apple Passbook are already dominant.
The Samsung Wallet application is currently available for only Android users in USA and Korea.
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