What is the difference between Samsung Pay and Apple Pay?

02 Feb 2023

• First and foremost, there are a few significant similarities between Samsung Pay and Apple Pay. Both of them enable users to make mobile payments online, through apps, or in person. A safe and secure wallet app allows users to store all of their credit and debit cards. In addition to credit and debit cards, users of Samsung Pay and Apple Pay can also add an almost infinite number of gift cards and rewards cards. However, the similarities stop there.
• Tokenization is a key component of how Samsung Pay and Apple Pay handle contactless payments. By using this procedure, retailers are never able to see your actual card number. Instead, they get a password and virtual account number, which they use to approve your payment.
• Recently, Samsung Pay was incorporated into Samsung Wallet, adding support for digital certificates and cryptocurrency.
• More than 45% of all purchases made with a digital wallet are made using Apple Pay, which is the most popular mobile payment method.
• Only 2% of all in-store transactions are completed using mobile payment methods.
• By using Touch ID or Face ID to verify purchases, Apple Pay adds an additional layer of security.
• Platforms for mobile payments can be extremely useful. You no longer need to carry a large wallet with all of your cards in it thanks to contactless payments. These days, you can easily store them all inside of your phone.
• Apple Pay is only available on Apple devices, while Samsung Pay is only available on Samsung devices. Apple Pay works with Apple Watches, while Samsung Pay is also compatible with Android-powered smartwatches. Furthermore, Apple Pay is already included in all of the most recent versions of macOS, whereas Samsung Pay has not yet been made available on any computer operating system.