When it comes to mobile payments with digital wallets, the average user doesn’t have much of a choice when it comes to services. Those who use an iPhone are relegated to using Apple Pay, while those with Android smartphones can opt for Android Pay. Meanwhile, Samsung smartphones utilise Samsung Pay.
The problem with the apps is availability, with Apple Pay’s availability in fourteen countries taking the lead. However, Samsung is playing catch up having just introduced the service to India, bringing the number of countries the service is available in, to thirteen. Neither Android Pay or Apple Pay are available in India, though there is a slew of local banking apps that users can utilise to pay at tills when shopping.
The Korean electronics company teased its entry into the Indian market last month but has now rolled out support to numerous banks such as Axis, HDFC, ICICI, SBI, and Standard Chartered. Furthermore, credit and debit cards from MasterCard and Visa are also supported. Users in India who have signed up for Samsung Pay early access program will be able to set up a Samsung Pay account and use it for purchases.
Furthermore, Samsung is also collaborating with one of the existing local mobile wallet services, Paytm. Paytm, which has 200 million users, will also be added to the list of supported services. However, while Samsung has beat its competition in regards to entering the Indian market, widespread adoption is still limited to Samsung users which are further narrowed down to a select few smartphones. It is only available on the Galaxy S7 and S7 edge, Galaxy Note 5, Galaxy S6 Edge+, Galaxy A5 and Galaxy A7.
Considering the incredibly large amount of smartphone users and the rise of mobile wallet usage in the country (some of which can be attributed to recent monetary laws), there is no doubt that Apple is hot on the heels of Samsung. Apple has already announced that they plan to bring their mobile wallet service to India but, since that statement, last year, have instead expanded to other Asian countries including Singapore and Japan.
