• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Nexo

Chase Support for Samsung Pay Brings Competition To Bitcoin

Jp Buntinx by Jp Buntinx
7 years ago
in Bitcoin, Bitcoin Acceptance, Bitcoin Breaking News Brief, Breaking Bitcoin News, Breaking News, Companies, News, News teaser, Technology
0
Advertisement

Samsung Pay is getting ahead of its competitors thanks to its innovative technology for mobile payments. Now that Chase Bank is supporting Samsung Pay as well, this mobile payment option is far ahead of Android Pay and Apple Pay. Despite this positive news, Bitcoin remains the most versatile mobile payment method available today, although mainstream adoption is still far away.

Also read: Check Out These Cryptocurrency Clubs And Bitcoin Groups!

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Samsung Pay and Chase BankBitcoinist_Samsung Pay Chase Bank

One of the main concerns with these various mobile payment solutions is how fractured the ecosystem truly is. Samsung Pay, Android Pay, and Apple Pay are all suffering from the same problem: lacking support from banks and retailers. But in the case of Samsung Pay, one major bank has been added to its list of “partners, as Chase Bank now supports this mobile payment method.

Due to Samsung Pay’s “different” approach to mobile payments, the service is pulling ahead of its main competitors. Unlike alternative mobile solutions, Samsung Pay users can make their payment either through NFC or by using the MST technology. This latter option lets mobile phone users send payment information to traditional card swiping terminals.

For the retailer, this news comes as a godsend, as they can delay the upgrade to NFC-enabled payment terminals a little bit longer. At the same time, Samsung Pay gained a powerful ally to add debit card support to its offerings, which has to happen on a bank-by-bank basis. According to the latest information, four major debit card-issuing US banks are on board with Samsung’s mobile payment solution.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

However, there is always a caveat to these new payments, as leaving the credit or debit card at home is still not possible. MST technology is a great tool, assuming it works that is. Technology has a habit of being flakey at best, resulting in terminal not receiving the proper signal from the buyer’s mobile device on some occasions.

But there is an upside to MST technology as well, simply because it allows Samsung device owners to use the mobile payment solution at more locations. Not all retailers have upgraded their payment terminals yet, and as long as they accept credit or debit card payments, Samsung Pay should work – assuming the customer uses a card issued by a supported bank.  

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

Stiff Competition For Bitcoin Payments?Bitcoinist_Mobile Bitcoin Payments

Regardless of how much progress these “new” mobile payment solutions make, Bitcoin is still in a prime position to become the most widely used option. Not only do Bitcoin payments not even require card payment terminals to be installed in the first place, but the transaction fees are much lower compared to traditional payment methods.

But what is more, important is how Bitcoin payments do not suffer from the fractured nature of these mobile payment solutions. Considering how Bitcoin does not rely on banks to transfer wealth between parties, retailers can serve customers from all over the world with little to no additional costs. Bitcoin is an option well worth considering, especially if that retailer wants to serve tourists or business people from outside of the country.

What are your thoughts on this Samsung Pay news? Have you used the service yet, and if so, did you enjoy the experience? Let us know in the comments below!

Source: Press Release via Email

Images courtesy of Samsung Pay, Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

Related Posts

Anthony Scaramucci

Here’s Why Scaramucci Expects Bitcoin Price To Reach $300,000 Before 2030

12 hours ago
liquidations

Liquidations Cross $280 Million After Bitcoin Price Falls Below $25,000

18 hours ago
Bitcoin

Bitcoin Will Beat Gold As Store Of Value, MicroStrategy CEO Says

1 day ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

1 day ago
Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

2 days ago
UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.