Samsung Pay will launch in Australia on June 15th.
While the platform is not a direct competitor of Apple Pay, given the discreet hardware and software ecosystems upon which they operate, its debut in Australia will offer a special opportunity to show up Apple Pay in what seems to have become a friendly rivalry between the platforms. As in many other cases (but not all), Apple Pay has beaten Samsung Pay to the market in Australia, but at the moment it’s supported by only one major bank—ANZ. Samsung Pay, meanwhile, will reportedly have the support of multiple banks in addition to ANZ, including Bank of Melbourne, Bank SA, ING Direct, and more. (Both platforms also have the support of American Express.)
Samsung Pay’s real rival, Android Pay, is also expected to launch in Australia during the first half of this year, but some are skeptical about how much success any of these platforms will see in a market already saturated with contactless payment cards and mPayment apps from domestic institutions. Still, similar concerns were aired ahead of Apple Pay’s launch in China, and the platform proved to be more successful than anyone had expected. In the disruptive business of digital payments, expectations are liable to be overturned.
Sources: International Business Times, The Australian