Technology

Samsung sees banking as a long game, and Samsung Pay is its first move. As mobile banking grows, the Korean electronics company believes financial services is ripe with opportunity.

South Korea’s LG last year rolled out LG Pay, a mobile wallet that took an indirect approach to contactless payments by leveraging Bluetooth technology to link to a proprietary “white” card that stored a user’s payment cards. The concept never took off, and a new report suggests LG is making another run at mobile payments, using different technology.

Samsung Pay is steadily spreading across the globe and adding new features, but it's also facing some strong challenges in these markets. Here are a few of the biggest issues Samsung's mobile wallet has faced since launch.

What matters is what the customer gets, not how they get it. Investing in digital distribution yields little unless banks are delivering the products and services that customers crave.

Prepaid cards and new mobile innovation in prepaid can bring speed and improve user experience for many different payment types and other financial services.

As cars' onboard computers get smarter, payments are coming along for the ride—but always taking a back seat to other features.

Apple Pay became a significant benefactor at Apple's new product presentation Oct. 27, as the mobile wallet's Touch ID authentication is incorporated into a flashy new MacBook Pro keyboard.

The cyberattack on internet service provider Dyn that shut down websites all over the world showed the dangers posed by internet-connected things. That includes many machines commonly used in offices and branches.

When Early Warning acquired clearXchange—soon to be renamed Zelle—late last year, the acquisition was applauded by banks that make up the P-to-P payments network because it brought Early Warning's various fraud detection technologies into play.

If online merchants can keep their sites secure, they stand to make big gains from a consumer base that is overwhelmingly willing to play its part in protecting payment credentials.