It’s 2021. Six years after the first mobile wallet by Apple Inc. The figures are interesting.
Reaching people in over 60 countries around the world combined, mobile wallets have gradually become the norm in society.
And with the onset of the coronavirus pandemic, there’s been increased awareness of the safety and hygiene of contactless payments, making them a preferred payment method for millions.
If you haven’t heard about these mobile wallets, then it might be time to take a closer look at what they entail.
In particular, we take a closer look at Samsung Pay vs Apple Pay in 2021, helping you reach the best decision for your wallet and future of payments.
How to set them up
It’s easy to figure out which payment provider works with your phone. It’s intuitive.
Samsung Pay works with higher-end Galaxy Samsung phones, while Apple Pay works with iPhones, iPads, iPad Pro, iPad Mini, MacBook Pro and Apple Watches.
Here are the brief step-by-step instructions on how to use them:
- Download the app
- Confirm your security data
- Add your cards
You can use this payment method for all NFC, magnetic stripe or EMC terminals as well as for in-app purchases.
- Open the Watch app on your iPhone
- Go to My Watch tab
- Scroll to Wallet & Apple Pay
- Tap Add Card and have it verified
Payments with Apple Pay can be made on NFC terminals, in-app purchases and web purchases in Safari.
Where can you use them?
Owing to Samsung Pay’s use of NFC and MST technology, it is widely accepted in tens of countries around the world.
It can be used at almost any payment location.
What’s more is that its continued partnership with various apps to facilitate in-app payments also widen the scope for payments with this payment type.
When it comes to Apple Pay, you’ll be able to use your mobile wallet to make payments to various Apple services including iTunes and the App Store.
This in addition to the millions of retailers worldwide which accept Apple Pay.
Apple Pay is also used in various transit systems, college campuses and enables you to make donations to some charities.
What cards can you add?
ou will be able to add the following cards to your various mobile wallets:
Samsung Pay: credit, debit, loyalty and gift cards
Apple Pay: credit, debit and loyalty cards
What about security?
Both of these payment methods are exceptionally secure, as retailers have no access to your physical card, which is stored on your phone.
What’s more is that both Apple Pay and Samsung Pay use tokenisation to convert your credit card data into “tokens” which not even you will be able to crack.
For example, Samsung Pay uses a token system for transactions and requires an iris scan, fingerprint ID or PIN to complete a purchase.
Authentication with Samsung Pay includes a fingerprint, PIN or iris, while with Apple Pay, it’s FaceID or a fingerprint.
Also, no card data is actually stored on your phone, making both methods extremely safe ways to pay.
Can I accept Apple Pay and Samsung Pay with myPOS?
myPOS is ready for both Apple Pay and Samsung Pay and accepts these payment methods.
This is in line with the innovations in payment, increased merchant demand and better adoption among consumers.
Whether you choose to use Apple Pay or Samsung Pay, you’ll never need your wallet again!
You’ll move forward with the times, and enjoy a much safer shopping experience!