With any mobile payments system, the number one challenge is always to get issuers to come aboard the endeavour and pledge their efforts to push it forward. Samsung has had this challenge in Tizen as a whole, but the issue has become even more pronounced with Samsung Pay. With the ability to use a Samsung Galaxy smartphone at any traditional credit card terminal, unlike the limited use cases for Android Pay and Apple Pay users, you’d expect Samsung to have it easier than its two rivals – but for some reason, that hasn’t been the case.
With today’s move by Samsung, though, 38 bank users totalling nearly 2 million individuals have been given access to Samsung Pay, bringing the total number of issuers for the MST-enabled platform to 41. Samsung has said its goal is to help consumers replace their wallets, and this latest move is an effort to continue that commitment with tangible results. The new 38-bank addition also brings the total of potential Australian users to 10 million, with Australian banks such as Credit Union Australia and Australian Unity now offering the most convenient mobile payments for their users.
The 41 Australian banks backing Samsung is still behind the 46-bank team for Google’s Android Pay and the 50 banks supporting Apple Pay in Australia, but it’s a sign of good progress to diminish the divide.