Next Samsung smartwatch to support NFC for mobile payments
According to reports from South Korea, Samsung could be readying a mobile payment system via NFC-equipped smartwatches by this September or by the end of the year at the latest. This Samsung Pay system may be related to the previously discussed Orbis. This would be the manufacturer's next step as part of the Internet of Things (IoT) ethos to bring mobile payments up to full speed. If successful, the convenience would allow for shopping with no waiting, no cash, and no lines.
More and more customers are utilizing NFC for quick and small transactions. Apple and Google, however, each have a different system with Apple Pay and Android Pay, respectively, and are luring new customers with bonuses and benefits. Now with Samsung entering the fray, the pendulum may swing more heavily towards one unified NFC payment system for increased adoption. Nonetheless, contact-less payments are the future in the eyes of these three corporations.