“Bringing Samsung Pay to other OEMs’ devices would essentially help Samsung to compete with Android Pay, which is available on any Android device…”

Samsung is exploring the idea of bringing its Samsung Pay mobile payments platform to smartphones from other OEMs, according to a new report.

Citing “a source familiar with the developments”, Gadgets360 says Samsung has been quietly discussing the idea with other OEMs, and is even open to the idea of providing them with its Magnetic Secure Transmission (MST) technology, which enables contactless payments with even swipe-based payment terminals, a feature that has helped Samsung Pay to stand out against other mPayment platforms like Apple Pay and Android Pay.

At the same time, Samsung is also reportedly exploring the idea of a peripheral device that could plug into Android phones to enable Samsung Pay payments, according to the report. The peripheral, or the extension of Samsung Pay to other OEMs phones – or both – would be realized in 2018, if the company decides to move forward with any of the ideas.

Bringing Samsung Pay to other OEMs’ devices would essentially help Samsung to compete with Android Pay, which is available on any Android device; Apple Pay, meanwhile, is restricted to Apple’s device ecosystem and is therefore not in direct competition with Samsung Pay. At the same time, an extension to lower-range devices from other OEMs could undercut Samsung Pay’s superior security proposition, with transactions currently supported by fingerprint scanning and even iris recognition on Samsung’s newer smartphones.

Source: Gadgets360