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Apple Pay vs. Samsung Pay vs. Android Pay – Competition for Mobile Payment Services Stiffens

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Mobile payment services are yet to take off in the U.S., but this does not mean you cannot make a transaction using your phone.

Current status in the U.S. market

At the moment, Apple Pay is available in the U.S. and it can be used in stores that are supported. On the other hand, Samsung Pay seems to be working its way into the U.S. market and, it will be very interesting to see how it progresses. This is especially due to the fact that just recently, Google also made it official that they will be launching their new mobile payment system known as Android Pay very soon.

This is just a sample of what competition exists in the mobile payment industry. As time goes by, it seems this competition will get tougher and intensive, but in general, this is usually to the benefit of the user. The big question is, are you ready to jump to mobile payment services?

So far, Apple Pay is by far the best option available for mobile payment. Integrated with the TouchID fingerprint scanner, you will be sure of getting secure transactions at any retail store that supports NFC technology. This is the same thing that Android Pay is working on, incorporating a fingerprint scanner in the new Android M OS to help with making secure and fast payments on Android Pay.

Samsung bought LoopPay this February and the result is that there is Samsung Pay. At the moment, this service is not available in the U.S.; however, it is expected to go into use in the mother country during this second half of 2015. There are rumors that Samsung Pay will be out in the U.S. this Fall, something that Apple should be very concerned about. To counter this move, Apple will be increasing the range of devices that support Apple Pay after initially launching it with iPhone 6 and its sister model iPhone 6 Plus. The service will now be available on all iPhone 5 models as well.

Google on the other hand bought Softcard, which was previously known as Isis but rebranded due to obvious reasons (ISIS terror group). This technology was responsible for offering users mobile payment services in competition with Google Wallet. Now that the technology and all of intellectual rights are owned by Google, we have a new Android Pay already lined up for release. Samsung introduced the fingerprint scanner in their recent Galaxy S6 flagships. This is meant to be used with the new Samsung Pay mobile system, just like Apple Pay makes use of TouchID and Android Pay will also use the same technology.

Which payment system is better?

All of these three mobile payment systems – Apple Pay, Samsung Pay and Android Pay – make use of the same technology. You can add credit card information to all of them and you will be sure of safety. However, Android Pay seems to be better equipped with matters of security as it offers a finer layer of secure transactions. It creates a virtual account number and associates it with your real card number. This virtual number is the one used for transactions and your real number stays hidden.

When making payments, you can use a password or fingerprint identification in all cases. However, the use of the fingerprint ID is the most recommended in all cases as it promises to deliver the best security when making a purchase.

Devices supported

At the moment, Apple Pay can only be used on iPhone 6 and 6 Plus. However, users of iPad Air 2 and iPad Mini 3 can use this form of payment to make in-app purchases. The Apple Watch also supports Apple Pay. On the other hand, Samsung Pay is currently limited to the two latest flagships – Galaxy S6 and S6 Edge. However, it is expected that this number will increase with time, especially now that the service is headed to the U.S. and probably other parts of the world.

Google’s Android Pay is yet to be released for public use. However, what can be said of it is that it will apparently work with devices running on Android M. However, this will definitely change as time goes by and as the service spreads its wings to other parts of the world.

Availability of services

There is really bad news for those living outside the U.S. However, this concerns Apple Pay only as this is the only service among the three that is in current use. Apple Pay is available for use in most retail stores in the U.S. The company said that the service will soon find its way to other countries, but only after Apple makes some formal agreements with banks.

Samsung Pay on the other hand is yet to be released even in its homeland South Korea. However, as noted earlier, the service will be in use before this year-end, which leaves U.S. users with nothing better than Fall of this year or even early 2016. Since Google just made the announcement recently, it is expected that U.S. users will begin using Android Pay before this year ends. This is so because the company promised that the service will be in use very soon, however, users in other countries will have to wait a little longer.