Samsung Electronics, in partnership with contactless mobile card payment firm Mobeewave, have launched an NFC-enabled contactless payment acceptance solution on mobile devices.
The two companies will deploy the point-of-sale service, dubbed Samsung POS, on Tuesday in Canada. They also have plans to expand the solution globally in 2020.
Samsung POS, which is aimed at making mobile payments more accessible for merchants, will allow consumers to make debit and credit payments by tapping their contactless cards, Samsung Pay, Apple Pay, or Google Pay wallets onto Samsung NFC-enabled devices without additional hardware such as cables.
Merchants who want to accept mobile payments can download the Samsung POS app from the Galaxy Store or Google Play Store, and register as a merchant for immediate use.
"Their patented contactless payment processing platform is the only mobile-based solution accepting Mastercard, Visa, and Interac transactions in pilot in Canada," said Sunny Park, vice president and head of the Service Operations Group at Samsung Electronics.
The two companies previously trialled a pilot of the service in Canada which generated 10,000 downloads.
Samsung launched Samsung Pay Cash earlier this month, which allows users to manage their budgets by setting up a prepaid balance, as well as make international money transfers through services provided in Samsung Pay by Travelex.
Since four years ago, Samsung Pay has become the largest mobile payment service used in South Korea for offline payments.
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In addition to empowering Samsung Pay users to setup prepaid balances for budgeting, Samsung also rolled out Money Transfer support in Samsung Pay. International money transfers can now be made within Samsung pay to 47 countries.
A unified competitive response by the tech giants is required in order to counter the Apple Card from potentially monopolizing the future of the smart wallet and mobile payments industry.
A recent poll revealed that serious cybersecurity concerns are at the root of consumers' confidence in mobile-only payments.