The hottest Samsung betting payment service hopes

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long before entering the United States, Samsung pay had been promoted in South Korea on August 20. Samsung Electronics said that once the tool was launched, its effect was better than the internal expectation of the company. At present, 25000 new users use it every day on average, and its daily trading volume exceeded 620000 US dollars

nowadays, as the world's largest intelligent manufacturer, Samsung Electronics is trying to promote the development of mobile payment. According to IDC, a market research institution, the market scale of mobile payment will reach US $1trillion by 2017

Samsung Electronics has made great efforts in mobile payment because its main business, namely intelligence, has been losing market share to apple, Huawei and Xiaomi

Gartner, another market research institution, pointed out that Samsung Electronics' global smart market share fell to 21.9% in the second quarter of this year, compared with 26.2% in the same period last year

Rhee in Jong, senior vice president of Samsung Electronics, said in an interview that the company may launch medium and low-end products that support Samsung pay payment function next year

Li Renzhong pointed out that the introduction of mobile payment for the middle and low end is a means to maintain cost performance, because consumers cannot enjoy such services on other products

Samsung Electronics hopes that Samsung pay can highlight its differences when competing with other products. At the same time, it also hopes that consumers are willing to pay a little more for fast payment services

however, given that Apple has launched a payment service and Google is preparing to launch a similar product, Android pay, some analysts believe that Samsung Electronics entered the market late, and its weak ecosystem will face challenges

analyst SHIV putcha said: Samsung pay is a necessary step in the correct development direction of Samsung Electronics, but it cannot guarantee to improve the company's intelligent sales

build a user base

Samsung Electronics has so far refused to disclose the total investment amount of the Samsung pay project. Before that, Samsung Electronics spent $230million to acquire looppay, a mobile payment start-up, in February this year

although Samsung Electronics' mobile payment is not advanced, its advantage is that it covers more consumers than its competitors. It not only supports magnetic stripe card readers, but also supports the use of NFC (near field communication technology). In addition, Samsung Electronics has also signed cooperation agreements with visa, MasterCard, chase and other credit card companies and banks

in contrast, apple pay, released last September, requires retailers to install new devices that are compatible with their services

SK securities, a securities firm, pointed out in a recent report that Samsung pay may help increase the shipment of Samsung electronic intelligence. The agency estimated that the sales of Galaxy note 5 and Galaxy S6 edge+ with Samsung pay function in the first three days were more than twice that of note 4 and note EDG last year

Li Renzhong, an executive of Samsung Electronics, said that Samsung pay's current goal is to expand new users, not to make profits, but he declined to disclose the target number of new users. The Samsung smart watch gear S2, which will be launched in October, will also support Samsung pay

it will also enter China, Europe, Latin America and other countries. Li Renzhong pointed out that the company is considering adding functions such as computer plus payment to further promote Samsung pay. In addition to Samsung pay, Samsung will further increase investment and acquisition investment to promote the development of software and services

Li Renzhong said: we will make a good investigation of every company that can make the equipment differentiate. The extruder Market in China has developed rapidly