Samsung made waves when it bought LoopPay and used its technology to create Samsung Pay, its exclusive mobile payment system that works with nearly all existing payment terminals. The company has continued to aggressively expand the capabilities of Samsung Pay, adding gift cards and a gift card store within Samsung Pay itself. Now, the co-general manager of Samsung Pay, Thomas Ko, has stated that Samsung Pay will expand to online shopping in 2016.
Expanding Samsung Pay into online shopping makes it even more of a fully-fledged mobile wallet and allows it to compete more directly with services like PayPal.
Additionally, Ko stated that Samsung Pay will be made available on more devices in 2016. This includes the notable category of mid-range Samsung phones. In this early period of its life, Samsung Pay has only been available on high-end Samsung devices, such as the Galaxy S6 and Galaxy Note 5. Expanding Samsung Pay to more devices will increase its impact while also giving Samsung an additional selling point for its devices.
Samsung Pay looks to have a bright future in 2016.