advertisement
advertisement
advertisement

Samsung Pay strikes deal with MasterCard to tackle online checkout 

Since its launch, Samsung Pay has kept its mobile payment method focused on physical checkout while competing wallets pushed their tap-to-pay technology inside apps. But this week Samsung (finally!) decided to make Pay e-commerce friendly. On Wednesday the company announced a partnership with MasterCard to make Samsung Pay a form of payment in digital shopping carts through MasterPass. 

The reason Samsung seems to have waited so long to introduce this functionality into its wallet is because it made a bet that the first wallet to be accepted in the most physical locations would be in stores (hence its acquisition of LoopPay). But because paying with a phone is not yet second nature, shopping inside of mobile devices may prove a better gateway for mobile wallet adoption. “Online payments accounted for more than 25% of the 2 trillion won in processed transactions, demonstrating that consumers may be actively looking for solutions to make their online experiences faster, simpler, and secure,” said Thomas Ko, VP and global GM of Samsung Pay, in a statement.RR