So long Samsung’s native payment option was only available on its Galaxy line of Android smart phones but according to the new report we find that the Korean consumer tech giants are now introducing a new payments app on third-party Android and iOS smart phones. This new payments app, called as Samsung Pay Mini, is actually an attempt made by the company to counter the lack of popularity of the Samsung Pay app. ET news reports that, the Samsung Pay service can get a bit complicated for users as the payments screen does not always appear spontaneously while making a payment. Therefore it becomes compulsory for users to remember the debit or credit card which they had linked to the payment service.
The new Samsung Pay Mini is said to be very efficient as it will function like a complete digital wallet. Thus it will get rid of the requirement of filling details manually, after completing any payments on online portals or apps. Also this new payment app will save a copy of every completed transaction facilitating future reference. However due to some technical reasons they do not have the facility of Magnetic Secure Transactions or MST payments on the new platform. Only the latest Samsung smart phones, that is the Galaxy S7 and the Galaxy S7 Edge have the MST payment facility.
Samsung Pay Mini scheme is to gain increase demand for its own digital payment service. Currently it has to compete with Apple whose Pay service is quite popular, but in the near future they may have to compete with LG, who is also planning to launch a similar service in the second quarter of 2016 called as GPay .
