Tim Cook introduces Apple Pay. Wait, that’s Samsung Pay. Photo: BusinessKorea
Samsung is rightfully envious of Apple’s mobile payment service Apple Pay, which has swept the mobile payments world since being introduced at the end of 2014. With that in mind, it’s introduced its own “Samsung Pay” rival service, which it hopes will sway customers back in the South Korea tech giant’s direction.
But with Apple having both a lead-time advantage and the “halo effect” of a beloved brand behind it, Samsung’s trying to appeal to something a bit more base when it comes to swaying people in favor of its mobile payment service: cold, hard cash.
According to new reports coming out of Korea, the company has decided not to collect fees on Samsung Pay, rather than the 0.0015 percent demanded by other mobile payment services. Samsung allegedly won’t charge partnered credit card companies either, or from service providers for online payments.