Samsung Pay Finally Hits The UK
It’s been quite a while, and new reports say that Samsung Pay is making its appearance in the UK.
Such a move has been expected for quite some time, but some are already noting that Samsung will be landing in a market where the competition is already pretty heavily entrenched. Can Samsung make the most of its late arrival and land a piece of the party for itself?
Samsung Pay is set to work in the UK much the same way that it works everywhere else, with the S7 Edge, the Galaxy S7, the Galaxy S8 and the Galaxy S8+ all set to accept Samsung Pay.
A software update will expand that field to the S6 and S6 Edge as well, and more devices will be able to get in on the action as the months go along.
Tokenization is a big part of Samsung Pay, as it uses the system as a means to provide a layer of protection between the credit card and the merchant system, serving as a kind of alternate number only usable for that one-time purchase.
Throw in both biometric controls—iris scanner or fingerprint—along with PIN settings and Samsung Pay is ready to provide security for those using mobile payments.
The UK is a great mobile payment market to be in, because so many users can be found therein. The problem, however, for Samsung is that the UK is such a great market to be in that some of its biggest competitors, like Apple Pay and Android Pay, can already be found therein, in some cases for years.
That’s the market that Samsung Pay will be walking into. While it won’t have to worry too much about Apple Pay as a competitor—Apple Pay doesn’t work on a single Samsung device—it may well have to be concerned about Android Pay.
Or, for that matter, the growing number of third-party apps from banks, from individual stores, or even other providers. Will Samsung Pay be able to succeed in a market where everyone’s already sending eggplant on Venmo?
It would be easy to say Samsung’s British invasion will be too little too late, but we’ve seen stranger things already. Samsung may have a chance, but the odds against it are plenty long.