eCommerceePaymentMarketing

Samsung Pay Is Coming To A Smart TV Near You

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

Follow on: Google +

Mobile payments service will be available on select Samsung smart televisions

Samsung is bringing Samsung Pay offering to its smart televisions, making it easier for viewers to pay for content.

Samsung Pay on TV can be linked to a  debit or credit card, or even aPayPal account, meaning users then only have to enter a four digit PIN number every time they want to make a purchase, removing the need to fill in lengthy forms.

Mobile users can also link their existing Samsung account to the television without additional registration.

Smarter

SmartPay_TV_Main_4The new feature is available on select 2014 and 2015 Samsung smart TV models in 32 countries.

Samsung is also planning to roll out mobile payments to smartphone users in South Korea and the US later this year, following a trial in its homeland.

This will be followed by a European launch sometime in late 2015, with Samsung recently revealing it was teaming up with MasterCard to bring the technology over here.

First announced at Mobile World Congress back in March, Samsung Pay marks the company’s first full entry into the mobile payments market

Rather than just using just Near Field Communication (NFC), as seen in systems such as Apple Pay, Samsung’s system also packs in magnetic secure transmission, which mimics magnetic-strip payment systems, meaning any retailer that currently accepts credit, debit or NFC payments can adopt the technology

Samsung estimates that Apple Pay reaches only ten percent of merchants in the US alone and believes there is a huge opportunity to be taken advantage of.

All clued up on mobile payments? Try our quiz!