Samsung has just announced its new payment service in Mobile World Congress 2015, the Samsung Pay. The service will be launched in South Korea and U.S later this year and one of its main features will be free transaction for merchants when payments are processed through it. With the help of this advantage, Samsung is trying to spread their service across faster than Apple Pay service, which is just limited to U.S for now. There is another good thing about Samsung Pay, it supports both MST and NFC, so Samsung Pay will work with credit card readers, unlike Apple Pay service which is just limited to NFC.
As reports say that merchants will not have to pay fees on transactions in South Korea, there is a good chance that same will go for U.S as well. Apple Pay is quite dominating in the U.S, so it is quite obvious that Samsung will offer the same service in the U.S to break the dominance of Apply Pay. Also people will also not have to get any additional hardware with Samsung Pay, this thing will help too in the competition against Apple Pay.
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