Samsung Pay to beat Apple Pay to China next year

Samsung Pay will expand next year. Photo: Samsung

Samsung Pay will expand next year. Photo: Samsung

Samsung is already fighting Apple Pay head on in the U.S., and now the South Korean company wants to beat it to new markets. A new report claims Samsung Pay will make its way to China, Spain, and the U.K. next year — only one of which is already supported by Apple Pay.

“As per the information that we’ve received, Samsung is planning to launch Samsung Pay in China, Spain, and the UK in the first quarter of 2016,” reports the reliable SamMobile.

Samsung Pay’s main competitor, Apple Pay, has been slow to rollout in international markets; it is already available in the U.K., but it is yet to make its way to Spain and China. Apple considers the latter one of its most important markets, and it has promised that Apple Pay will arrive there.

When that will happen is anyone’s guess. Apple set up a company in Shanghai in September, which led us to believe Apple Pay was close — but we’re yet to hear anything. Apple may be in more of a rush to launch if it thinks Samsung Pay is close, but it’s unlikely it will be too concerned.

Samsung Pay already has an advantage over Apple’s service; its compatibility with traditional magnetic credit card readers means NFC terminals aren’t required to accept Samsung Pay payments, and therefore the service is more widely available.

Samsung could also make its service more accessible in emerging markets by making it available on future devices that aren’t as pricey as flagships like its Galaxy S6 series, or the latest iPhones.