November 22, 2024

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[THE INVESTOR] Samsung Electronics will install its mobile payment solution Samsung Pay in nearly all its smartphone models in a bid to expand its footing in the sector, according to local news reports on Dec. 14.

The tech giant will also reportedly make Samsung Pay available on other Android devices by releasing a mobile application of the payment solution.

“Most Samsung smartphones scheduled to be released next year will be fitted with Samsung Pay,” a Samsung official was quoted as saying by economic daily Financial News.

The comment indicates that mid-range and low-end Samsung smartphones could be installed with a fingerprint scanner, a necessary feature for user identification.

During a press meeting in September, Koh Dong-jin, the chief of Samsung’s mobile business, said the firm’s mid-range and low-range smartphones, including the Galaxy J, could feature a fingerprint scanner thanks to the decreasing production cost for the components of the biometric scanner.

The Korean smartphone maker has recently decided to outsource fingerprint modules from local firms in order to further drop the production cost.

Samsung Pay allows users to pay for their purchases at brick-and-mortar shops as well as online stores.

The tech giant is also preparing to release Samsung Pay Mini, a mobile payment application that can be used on any Android smartphone.

Different from Samsung Pay, the Mini, scheduled to hit the Korean market in January, is only available for online shopping.

By Kim Young-won (wone0102@heraldcorp.com)