Google and Samsung have more or less worked at cross purposes in the past but it is possible that both firms will be looking to let go of past grudges and form a coalition to perfect their mobile payment services in order to take the fight right to Apple's NFC payment feature. It appears that after Samsung had acquired LoopPay, a company that allows consumers to make online transactions from the comfort of their smartphones, Google might also incorporate its payment system in to the company's upcoming flagship smartphone, the Galaxy S6.
According to PhoneArena, David Eun, head of Samsung's Global Innovation Center, stated that the phone maker is "committed to creating the different experiences and devices that they (the customers) want." In terms of functionality, both LoopPay and Google's Wallet utilize two completely different methods in order to facilitate online transactions.
Google Wallet uses NFC connectivity which actions payment over a 'point of sale' terminal that has an NFC chip present in it. Since NFC payment terminals are yet to become an omnipresent element in the financial innovation club, it will limit the user's ability to make payments comfortably. LoopPay involves the use of a fob that does not require NFC connectivity to complete the payment and instead, relies on the use of a magnetic stripe swiping process.
The advantage of using the latter is that the new mobile payment service is ubiquitous and is accepted in over 10 million locations. However, Apple Pay uses an NFC payment system so in order to lock horns with the Cupertino tech giant properly, Samsung might choose to include Google's service in its Galaxy S6 smartphone. Google is also making attempts in perfecting another payment system called 'Plaso.' However, the company has not yet stated when the service would be ready for consumer use.
