A Samsung vice president has revealed to investors that its mobile payment service will be expanding to Europe and China, even though the product is still to launch in Korea and the United States.
According to Reuters, Rhee Injong, executive vice president of the South Korean firm, stated they are looking at a ‘‘September time frame’’ for the launch of Samsung Pay in the U.S and its home country of South Korea. Samsung Pay will then become available to customers in China and Europe after the service launches in those two nations.
Samsung are edging closer to releasing its product in Europe. Last month, Payment Eye reported that French digital security company Oberthur Technologies (OT) has partnered with Samsung Pay, specifically to help them with its European launch.
Samsung’s S6 and S6 Edge smartphones already have OT’s NFC embedded Secure Element (eSE), PEARL. OT will also act as the end-to-end service that will connect the eSE to the digital enablement platform when Samsung Pay is rolled-out in Europe.
Injong also revealed that Samsung Pay will launch in Australia and South America, but did not give a specific time frame for the two nations.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.