Samsung's new Samsung Pay mobile wallet system is demonstrated at its Australian launch in Sydney, June 15, 2016. REUTERS/Matt Siegel
SYDNEY/SEOUL: Smartphone leader Samsung Electronics has for years been a spectator as Apple built a services "ecosystem" supporting its products. But now, as the two develop the market for mobile payments, the Korean tech giant is taking the fight to its US arch-rival.
For Apple, offering users the ability to tap their iPhones on sales terminals to buy a coffee, snack or train ticket is a fresh revenue stream, like its iTunes music and entertainment service. The banks it works with cough up a small charge for each transaction – reportedly 0.15% in the United States.
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