Google Wallet vs Samsung Pay
Last updated: October 27, 2016
Google Wallet is an easier way to pay in stores, pay your friends and pay online. Shop in stores with all your loyalty, offers and gift cards in one place. Send money to friends and they can spend it instantly with the Google Wallet Card. Store your gift cards and loyalty programs and leave the plastic cards behind. Send money to any friend in the US with an email address or request money from them while on-the-go. It's easy, fast, and free to send directly from your bank account or Wallet Balance.
Samsung’s mobile payments app that uses both near-field communications (NFC) and magnetic secure transmission (MST) technology. It’s brought MasterCard and Visa to the table as partners along with four of the largest card-issuing banks: JP Morgan Chase, Bank of America, Citi and US Bank.
Face to face in the news:
2015 - Samsung Pay Launches In The US. Beware Google Wallet
Samsung Pay, the device maker’s competitor to rival NFC-based payment services including Apple Pay and Android Pay, is now live in the U.S. following its earlier launch in South Korea, where it saw over $30 million in transaction volume during its first month. The payments platform, based on technology acquired from LoopPay, gives Samsung what it hopes will be a competitive advantage in the payments market, as it’s not limited to NFC-based payments alone. Instead, Samsung Pay offers a way for consumers to pay using their Samsung smartphones via either NFC technology, like Apple and Google’s solution, or by emulating a magnetic stripe card. That, Samsung hopes, will give its mobile payments service the edge in the near-term. And as payment terminals move to support EMV and NFC technology instead, Samsung Pay will continue to work with them, too.