South Korea-based smartphone manufacturing giant Samsung Electronics on Tuesday launched its mobile payment service [url=http://www.whitesoxauthoritystore.com/...ventura-jersey-c-19/]Robin Ventura Jersey[/url] , known as Samsung Pay, in the Chinese mainland, joining the fierce competition in the promising mobile payment segment in the world's biggest smartphone market.
The move was jointly announced by Samsung and its Chinese partner, China UnionPay, the only interbank network in the nation [url=http://www.whitesoxauthoritystore.com/...o-lopez-jersey-c-50/]Reynaldo Lopez Jersey[/url] , which links the ATMs of all banks throughout the mainland.
As a result of the move, 15 banks, including Industrial and Commercial Bank of China and China Construction Bank, can connect their credit or debit cards to Samsung Pay.
Other banks such as Bank of Communications and Industrial Bank will soon follow suit, according to a note Samsung sent to the Global Times on Tuesday.
Samsung Pay is supported by Samsung's Galaxy S7 [url=http://www.whitesoxauthoritystore.com/...-konerko-jersey-c-5/]Paul Konerko Jersey[/url] , Galaxy S7 edge, Galaxy S6 edge-plus and Galaxy Note5 models only on licensed Samsung mobile phones, the company said.
This official launch in the mainland comes after Samsung Pay's month-long public testing began on February 24.
The company launched its mobile payment service in South Korea and the US in 2015.
Samsung's march into China's mobile payment market follows moves by US smartphone giant Apple Inc and its Chinese rival Huawei Technologies Co.
Apple Pay became available in China from February 18 in partnership with 19 banks. Huawei announced on March 8 it would allow Bank of China's cardholders to use Huawei Pay.
Samsung Pay will have wider applications than its competitors, media reports said.
Samsung Pay can be used in almost all point-of-sale (POS) machines thanks to its support of both the wireless technology known as near-field communication (NFC) and magnetic secure transmission (MST), a technology that emits a magnetic signal that mimics the magnetic strip on a traditional payment card [url=http://www.whitesoxauthoritystore.com/...guillen-jersey-c-17/]Ozzie Guillen Jersey[/url] , according to Samsung.
Apple Pay and Huawei Pay can only be used on POS terminals that support NFC, tech.sina reported on Tuesday.
Huawei told the Global Times on Tuesday that it sees NFC payment as a safer payment method that can't easily be duplicated as magnetic strip payments can. The company also said about 7 million POS machines in China now support NFC technology and the number is still rising.
"The large number of smartphone users in China and the convenience of mobile payments make China a hugely profitable market for companies like Samsung, Apple and Huawei," said Hao Zhujing, an industry analyst with EnfoDesk [url=http://www.whitesoxauthoritystore.com/...lmonico-jersey-c-49/]Nicky Delmonico Jersey[/url] , a big data analysis consultancy unit of domestic information provider Analysys International.
As of 2015, 470 million smartphones were in use in China, surging from 121 million units in 2011, according to domestic tech website tmtpost.
And 358 million Chinese had paid for goods via their smartphones as of the end of 2015, up 64.5 percent year-on-year [url=http://www.whitesoxauthoritystore.com/nellie-fox-jersey-c-9/]Nellie Fox Jersey[/url] , according to a report issued by the China Internet Network Information Center on January 22.
"The huge potential in China's mobile payment market, not only in first-tier cities but also the underdeveloped second- and third-tier cities, is bound to attract more competitors," Hao told the Global Times on Tuesday. "But the mobile payment market still needs to be developed in aspects such as users' payment habits and partnerships with banks."
China's Internet giants have already moved into the market one step ahead of smartphone manufacturing giants.
Alipay, Alibaba Group Holding's online payment platform [url=http://www.whitesoxauthoritystore.com/...onzalez-jersey-c-53/]Miguel Gonzalez Jersey[/url] , currently has 450 million active users, Jing Xiandong, Ant Financial chief financial officer, was quoted as saying by the Qianjiang Evening News on March 4.
Tencent's WeChat has about 3.6 trillion yuan ($552.96 billion) in transaction volumes every year, sohu reported on Thursday.
"Alipay and WeChat have some advantages in mobile payment due to their huge user bases [url=http://www.whitesoxauthoritystore.com/...-jordan-jersey-c-24/]Michael Jordan Jersey[/url] , but smartphone makers also have advantages since Apple Pay and Samsung Pay are more convenient in terms of payment procedures," Hao said.
Hao said that promotional efforts will ultimately determine the winner in the market.
Why Not Use Social Networks For Free Traffic
Author:
Garey Simmons
There are numerable social networks out there. Some have profiles and some
don't. Facebook and MySpace are very similar except that Facebook has a wider
appeal to professionals. LinkedIn is strictly for connecting via business
profiles. Twitter is a social networking site that is unlike the others so
deserves a special mention.
Facebook
This social network
began as a way for college students to connect with other college students in
their university network. It took its name from the black book that many college
students used to keep track of each other. Now, this has outgrown its original
roots and allows anyone in, whether you are in a University or not. However, you
only have access to the collegiate networks if you are a student attending that
particular college or university.
Facebook follows the pattern of
profile [url=http://www.whitesoxauthoritystore.com/...cabrera-jersey-c-31/]Melky
Cabrera Jersey[/url] , friends, and community groups. It's main advantage is
that it also has a marketplace where you can sell your products and places to
buy advertisement to widen your audience. It is free to set up the profile and
to use the marketplace for classified ads. There is a way to list links to your
websites and RSS feeds on your profile page. Also, using regular updates from
your blog or newsfeed can pull people off Facebook to you blog and eventually to
the products on your site. Be sure to check out the applications that are
installed separately. There are many there that can help you connect more or
create better business opportunities.
LinkedIn, This social
networking site has a far more business-like and professional flavor. It is
noted for helping people network to
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