Will Samsung Pay Beat Out Android Pay?

The mobile payment wars are heating up -- and fast. On the heels of Google's move to essentially ditch its Wallet concept in favor of the new-and-improved Android Pay, Samsung is set to roll out Samsung Pay in the United States on September 28. The question is, which is better?

When JK Shin, CEO and head of IT & Mobile Communications at Samsung, announced the mobile payment system in March, he promised it would reinvent how people pay for goods and services and transform how they use their smartphones. But is it the "game-changing service" he promoted or purely hype.

Samsung is launching with major payment networks like MasterCard and Visa on board, but so is Android Pay, which Google started rolling out last week. Samsung Pay and Android Pay, in fact, both have strong and growing ecosystems with key financial partners like American Express, Bank of America, Citi, JPMorgan Chase, and U.S. Bank, to provide greater flexibility, access, and choice for customers while enabling simple and secure payment experiences.

Which Offers What?

EUMobile commerce just got a lot more interesting,EU said Jim McCarthy, executive vice president of Visa, in a statement. He was talking about Samsung Pay's entrance into the mobile payment market, but this was before Google pushed out Android Pay. So, again, which service is better?

According to the company, Samsung Pay has the potential to be accepted at approximately 30 million merchant locations worldwide. Out of the gate, consumers with Android Pay installed on their smartphones can pay for goods at over 1 million locations in the U.S.

Google hasn't said anything about 30 million locations, but it has listed a slew of big brands that will support Android Pay and it seems to have covered all the initial bases. Beyond making digital payments, Android Pay even stores gift cards, loyalty...

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