• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Breaking News: Tether Announces Strategic Partnership To Combat Stablecoin Misuse
🚀 BUY NEO PEPE PROTOCOL 🚀
  • 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Bitcoinist.com
No Result
View All Result
Breaking News: Tether Announces Strategic Partnership To Combat Stablecoin Misuse

Samsung Pay Faces Same Struggle as Bitcoin Startups In Finding European Bank Partners

Jp Buntinx
by Jp Buntinx
9 years ago
·
Posted in Bitcoin, Bitcoin Acceptance, Bitcoin Breaking News Brief, Bitcoin Education, Bitcoin Service, Bitcoin Technology, Companies, News, News teaser, Services, Technology
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Mobile payments are slowly creeping into our daily lives, as more and more competitive services start to emerge. Apple Pay, one of the most popular mobile payment options, has slowly started rolling out its services in various countries. And it looks like Samsung and Mastercard will present Samsung Pay together in Europe in the near future.

Also read: Apple Pay Users in London Double-charged for Public Transport, Bitcoin A Superior Alternative

Samsung Pay – Mobile Payments In Europe “Under Construction” Bitcoinist_Samsung Pay 2

It has to be said that the competition between Apple Pay and Samsung Pay will be an interesting one to keep an eye on. Despite Apple Pay getting out of the gates sooner than Samsung Pay, there have been various issues with this mobile payment system already, causing customers to be overcharged on “automated” transactions.

Samsung Pay has already entered a trial stage in South Korea in early July and is expected to launch in the United States “sometime soon”. However, Samsung Pay in Europe is not on the horizon just yet, as the company is still working on bringing “additional partners and banks” the table. Mastercard is the only confirmed partner at this time, albeit it is a major one.

The way Samsung Pay will work for Samsung smartphone owners is as follows: the mobile app will use Mastercard’s Digital Enablement Service. That name may sound very familiar to tech enthusiasts, as it is exactly the same system used by iPhone users to conduct contactless NFC payments with the Apple Watch and iPhone 6.

But there is a major difference between Samsung Pay and Apple Pay. There is an additional feature supported by Samsung Pay, called magnetic strip technologies [MST]. These magnetic strip technologies are present in most payment terminals already, meaning that participating merchants will not have to invest in additional infrastructure to accept Samsung pay transactions.

Assuming Samsung can close the partnership they have in mind, the Samsung pay service will be made available to 30 million merchants around the world. From a commercial point of view, not having to invest in additional infrastructure sounds promising, even though the Samsung pay service is still in a “very early stage”.

Using Old Technology for Mobile Payments Is Not Innovation

Regardless of how you want to look at Apple Pay and Samsung Pay, both “innovations” are using traditional financial infrastructure in the form of credit cards and bank accounts. The only difference is that both platforms allow customers to pay without handing over their card details, nor will have to be interacting with the cashier either. Whether or not that is a positive side effect will have to be seen.

Additionally, both Samsung Pay and Apple Pay have taken a page out of Bitcoin’s book. Bitcoin payments have been contactless, and most of the efforts have been focused on the mobile space for quite some time now. Bitcoin payments are the only true form of financial innovation the world has seen in the past 50 years, yet these giant corporations keep rehashing the same old and broken financial technology.

What are your thoughts on Samsung Pay, and will you be using this “innovative” service? Let us know in the comments below!

Source: TechCrunch

Images courtesy of CNET and TheDroidGuy

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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

Follow

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

Full Profile

Related Posts

Bitcoin

Analyst Predicts Bitcoin Price Breakdown — Here’s The Best Time To Buy

10 hours ago
Metaplanet

Metaplanet Moves On Digital Bank Acquisition As It Scales Bitcoin Strategy

17 hours ago
Will 600K Bitcoin Be The Tipping Point? Saylor’s Strategy Sparks Institutional Wave

Will 600K Bitcoin Be The Tipping Point? Saylor’s Strategy Sparks Institutional Wave

1 day ago
Bitcoin

Corporate Bitcoin Craze: 54 Companies Dump $500M Into BTC Treasuries

2 days ago
Bitcoin

Bitcoin First: Musk’s Political Party, Crypto Push Shakes Up Washington

2 days ago
Bitcoin

Why Satoshi-Era Bitcoin Are Relevant To Market Dynamics — Analyst Explains

3 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • [Exchange Background] Kraken certified ETHRANSACTION cloud...

    3 hours ago
  • MiningToken Becomes the Most Profitable Bitcoin Cloud...

    5 hours ago
  • Crypto ETFs promote the development of cloud mining...

    5 hours ago
  • XRP Mining teaches you how to turn your cryptocurrencies...

    6 hours ago
  • Earn $2,750 a day through XRP and BTC? Ripplecoin Mining...

    6 hours ago

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

Buy Neo Pepe

Bitcoin

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

Altcoins

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

Categories

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

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 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
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
  • 200 FREESPINS
Advertise

© 2025 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.