“…it appears Samsung Pay’s launch in the country isn’t quite the coup it was expected to be.”
Samsung Pay has officially launched in Australia.
The mPayment service arrives in the country with the support of American Express and Citibank. While some had speculated that multiple other domestic banks would be in tow for the platform’s launch, an official statement from Samsung made mention only of the two; and given that Apple Pay is available with the support of American Express and ANZ, it appears Samsung Pay’s launch in the country isn’t quite the coup it was expected to be.
That’s no great concern, however. Apple Pay functions on an entirely different software and hardware ecosystem from Samsung Pay, and as such is not a direct competitor. The real concern is Android Pay, which has yet to launch in Australia but reportedly already negotiated deals for support from a few domestic banks.
There could be plenty of room for all of these mPayment platforms, however. A recent report from Frost & Sullivan predicts that mPayments will “take off” in the country in the next year or so, which suggests a bright future for all concerned.