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Samsung Working With eBay OZ To Deliver Apple Pay Competitor

Samsung Working With eBay OZ To Deliver Apple Pay Competitor

Adrian Christie Head of Communications at eBay said that his
Company is already in talks with Samsung Australia along with other Android based device
manufacturers with a view to delivering a mobile payment system in Australia.

eBay and sister Company Pay Pal already have relationships
with several major retailers and banking organisations.

Christie believes that Apple have very limited partners on
board in Australia at this stage. ChannelNews understands that most major
petrol Companies, both Woolworths and Coles and all of the major banks have not
signed up for the new Apple Pay offering. 

eBay’s stock price has declined following Apple’s September
9th event, but it’s likely that this trend will reverse when the market
realises that brands like Samsung are set to partner with the US Company.

ChannelNews believes that eBay will generate more enabled
commerce volume from mobile transactions, than Apple as multiple Android
partners will be able use their offering.

The company said that they are working closely with Samsung
to develop a mobile NFC payment solution, and since PayPal has a pre-existing
base of users, paired with payment transfer capabilities, along with theft
protection for merchants on its marketplace platform, the company is well
positioned to gain back a bit of the momentum that it has lost from the
September 9th event. Furthermore, PayPal already has 150 million global active
accounts giving the company incredible scale from the get go.

 

Samsung said that they are currently developing a new smart
watch equipped with fingerprint identification technology and relevant
solutions delivered by PayPal, the world’s most renowned financial transaction
service company, as well as Synaptics, a global company specialized in
biometric verification.

 

The third generation smart watch will be released early next
year incorporating the new system in which payment is authorized immediately
when users identify themselves through biometric sensors such as a fingerprint
or login.

 

PayPal’s entry into the mobile payment market with key
partners like Samsung bodes well for the company as they have significant
market share in developed and emerging markets claims analysts. This they claim
could give them a significant edge over Apple.

 

By Implementing fingerprint sensor technology across
Samsung’s mobile and wearable product line-up, along with NFC capabilities
Samsung is set to deliver added source of revenue in the form of mobile
transaction revenue however several issues still need to be resolved in Australia
including which Gateway will be used and which banks will support the Korean
Company and eBay.