mPayments, EMV Shift Among Samsung’s Top Trends of 2015

mPayments, EMV Shift Among Samsung's Top Trends of 2015In a new blog post, Samsung has unveiled its top technology trends of 2015, calling it ‘a year of digital disruption’.

While a couple of the top trends—digital signage and virtual reality—may seem a little niche to some observers, Samsung also highlights mobile payments and the EMV liability shift as other major trends, and that is hard to argue with.

Writing on behalf of the company, Deena M. Amato-McCoy asserts that mPayments “hit a tipping point” this year, and cites a Deloitte report in noting that by the end of 2015, “five percent of the base of approximately 650 million NFC-equipped phones will be used at least once a month” for mPayments. Indeed, and with the recent announcements that Apple Pay and Samsung Pay will be entering the massive China market in 2016, it’s quite possible that this will continue to be a huge trend over the next year, too.

The EMV mandate is a related trend, having nudged the US retail industry to begin accepting EMV payment cards, which in turn generally leads to acceptance of NFC payments. That, of course, enables mPayments from companies like Apple Pay, further promoting the mPayment market; though of course Samsung’s MST system allows contactless mPayments to be made with traditional card readers. In any case, the path forward is paved for mPayments, with the upward trend clearly reaching into 2016.