Samsung may be implementing Samsung Pay to their non-premium phones such as the Galaxy J series phone priced around $115. Samsung Pay allows users to save credit cards, gift cards, as well as other payment methods.
Samsung Pay recently launched in India. Samsung has been strategically and quietly adding Samsung Pay to cheaper phones and plans to experiment the idea in India. One of the reasons that Samsung possibly chose India to experiment with Samsung Pay on cheaper phones is because out of 85 million Samsung phones in India, 25 million are cheaper Galaxy J series. Also recently, India prohibited 500 rupees and 1,000 rupees bills from circulating thus making Samsung Pay easier to buy things.
If expanding Samsung Pay to cheaper phones in India turns out to be successful, it will be a very clever move made by Samsung. With the dense population in India, Samsung can easily turn into the mobile payment industry leader. However, competitors such as Paypal and Apple Pay can easily catch up as well. The competition against the many mobile payment companies are growing more and more intense but if Samsung can secure the first-mover advantage, they can secure their placement in the industry.
Source:
https://www.cnet.com/news/samsung-pay-galaxy-j-phones-india/
While researching in regards to mobile payments and banking, I’ve wondered how companies were planning to address those who do not have access to smart phones as many companies seem to focus on these types of devices in regards to mobile payments and wallets. It’s great to see that Samsung is tapping into that market while also providing a valuable service to those in India. Additionally, I wonder if this integration will make cheaper phones more popular.