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Samsung Takes Fight To Apple With Mobile Wallet Strategy


Ron Burgundy
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Samsung's new Samsung Pay mobile wallet system is demonstrated at its Australian launch in SydneyBy Matt Siegel and Se Young Lee SYDNEY/SEOUL (Reuters) - Smartphone leader Samsung Electronics has for years been a spectator as Apple built a services "ecosystem" supporting its products. 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 percent in the United States.




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