SamsungPay Mini to Be Released in Next Month

Samsung Electronics is releasing ‘SamsungPay Mini’ in next month at the earliest to increase percentage of online payments. It can be used on Android phones as well as iPhones. According to IT industry and financial industry on the 26th, Samsung Electronics is commercializing a separate application called ‘SamsungPay Mini’ in June to strengthen online payments. Samsung Electronics has designed it so that cards can be registered in it and be used for online shopping malls or online stores. Although detailed operating method is not revealed yet, Samsung Card, Lotte Card, and Hana Card already decided to participate in this application. Other card companies such as KB Card and others are also thinking about participation. A reason why Samsung Electronics is making an online-version SamsungPay is because current SamsungPay is being used mostly at offline stores. Although SamsungPay is supporting online payments since February, percentage of online payments is lower than Samsung Electronics’ initial goal. Its percentage is not even 20% out of all payments. Also if one were to use SamsungPay to make online payments, he or she has to go through somewhat complicated procedures. For example, one has to select a payment screen of each card company if he or she were to make online payments on 11st or Auction through SamsungPay. Out of many certification methods such as application payment, simple payment, SMS payment and others, he or she has to click SamsungPay payment separately. Because SamsungPay’s payment screen does not come up initial screen, one has to select a card that he or she wants to use so that it can be linked to SamsungPay payment. A reason why SamsungPay does not have its own payment screen is because Samsung Electronics has to pay PG (Payment Gateway), which allows connection to payments, a separate fee. This is why Samsung Electronics chose online payments through other card companies that are linked to SamsungPay. Click to read the rest of the article