Samsung Partners with PayPal for Payments on Next Watch

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Samsung has announced a partnership with Paypal to work on a mobile payment system that will be available on Samsung's next smartwatch.

Apple has finally embraced wireless payments with the new iPhone 6 and Apple Watch. Both are equipped with NFC-based Apple Pay. That doesn't mean Samsung is throwing in the towel on digital payments. Samsung has teamed up with PayPal to create a mobile payment function on its next smartwatch.

Information comes from Business Korea who quoted a high-ranking Samsung official saying that the new watch will also include biometric verification (most likely a fingerprint reader) provided by Synaptics, a company best known for producing notebook touchpads for companies like Dell, Lenovo and of course, Samsung. The official also said that the earliest release would be early next year, possibly coinciding with Mobile World Congress 2015, which takes place in Barcelona, Spain from March 2 to 5, 2015.

MORE: Apple Watch Hands-on: Worth the Hype?

Samsung has been the most prolific smartwatch maker to date, with five models currently available for sale. This ranges from standalone Samsung Gear 2 Neo, which lets you answer calls and emails straight from your watch, to the most recent Samsung Gear Live which features Google’s Android Wear OS.

On the payment end, Synaptics is a founding member of the Fast Identify Online Alliance. This consortium for biometric identification includes major companies, including Bank of America, Visa, Google and Microsoft.

Recently, both Visa and PayPal have come out with new smartphone apps that seek to make mobile transactions easier, but with low adoption rates there is still room for another company like Apple or Samsung make dollars and cents of the mobile payment space.

Via Business Korea

Sam Rutherford is a Staff Writer at Tom’s Guide. Follow him @SamRutherford on Twitter and Google+. Follow us @Tom’s Guide on Facebook and Google+

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Sam Rutherford

Sam is a Senior Writer at Engadget and previously worked at Gizmodo as a Senior Reporter. Before that, he worked at Tom's Guide and Laptop Mag as a Staff Writer and Senior Product Review Analyst, overseeing benchmarks and testing for countless product reviews. He was also an archery instructor and a penguin trainer too (really).

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2 Comments Comment from the forums
  • jameskatt
    With the iPhone 6 and 6 Plus selling MILLIONS on the opening weekend and with the HUGE SUPPORT by banks and credit card companies for Apple Pay, Apple will soon has MILLIONS of Apple Pay users. It will be far and away more successful than any other company including Samsung in NFC payments.

    The primary reason is security. With Android being "open" and full of viruses and apps capturing customers' data, Android is a poor platform for doing NFC payments. Samsung's smartwatches are also atrocious and will sell to few users.

    Apple's Apple Watch is NOT being even called a smartwatch by Apple. It is a watch. And it is gunning for the high end 350-$30,000 watch market. To these customers, NFC payments are going to be used quite frequently.
    Reply
  • Sing Along
    With the iPhone 6 and 6 Plus selling MILLIONS on the opening weekend and with the HUGE SUPPORT by banks and credit card companies for Apple Pay, Apple will soon has MILLIONS of Apple Pay users. It will be far and away more successful than any other company including Samsung in NFC payments.

    The primary reason is security. With Android being "open" and full of viruses and apps capturing customers' data, Android is a poor platform for doing NFC payments. Samsung's smartwatches are also atrocious and will sell to few users.

    Apple's Apple Watch is NOT being even called a smartwatch by Apple. It is a watch. And it is gunning for the high end 350-$30,000 watch market. To these customers, NFC payments are going to be used quite frequently.

    With the iPhone 6 and 6 Plus selling MILLIONS on the opening weekend and with the HUGE SUPPORT by banks and credit card companies for Apple Pay, Apple will soon has MILLIONS of Apple Pay users. It will be far and away more successful than any other company including Samsung in NFC payments.

    The primary reason is security. With Android being "open" and full of viruses and apps capturing customers' data, Android is a poor platform for doing NFC payments. Samsung's smartwatches are also atrocious and will sell to few users.

    Apple's Apple Watch is NOT being even called a smartwatch by Apple. It is a watch. And it is gunning for the high end 350-$30,000 watch market. To these customers, NFC payments are going to be used quite frequently.
    With the iPhone 6 and 6 Plus selling MILLIONS on the opening weekend and with the HUGE SUPPORT by banks and credit card companies for Apple Pay, Apple will soon has MILLIONS of Apple Pay users. It will be far and away more successful than any other company including Samsung in NFC payments.

    The primary reason is security. With Android being "open" and full of viruses and apps capturing customers' data, Android is a poor platform for doing NFC payments. Samsung's smartwatches are also atrocious and will sell to few users.

    Apple's Apple Watch is NOT being even called a smartwatch by Apple. It is a watch. And it is gunning for the high end 350-$30,000 watch market. To these customers, NFC payments are going to be used quite frequently.

    which cloud service just gt it's celebrity customers nudes leaked because they forgot to implement a simple security protocol?
    Reply