Samsung launches its Wallet with a cryptocurrency service

Samsung has announced the launch of Samsung Wallet

You probably carry three things with you when you leave the house: your wallet, keys, and phone. Apple, Google and now Samsung are trying to eliminate two of these elements up to the third. Both companies aim to replace the physical keys and wallet with a digital wallet stored on the phone. At WWDC22, Apple announced its card app which now expands support for keys and IDs. Users can save their ID here for easier access to apps that perform age and identity verification. To protect the privacy of people using this feature and ensure their security, only the information necessary for the transaction is transmitted to the app. Users must also be informed and give their consent before they are shared. The Maps app also allows you to store your home, hotel, office and car keys for secure sharing via Messages, Mail and other apps.

Apple Pay is arguably the first way iPhone users can be exposed to the Card app. Having a digital wallet on your phone is driving mobile commerce and also provides a scalable path to reduce transaction friction and maximize customer loyalty. customers. But for some years now they have been sending all your purchases that require a subscription such as a plane or train ticket: the common point is often the QR code to be identified. The digital wallet is the engine of mobile commerce, and it also provides a scalable path to reduce transaction friction and maximize customer loyalty.

Some auto insurance companies allow you to add your police card to the Wallet application in some countries like USA, Canada … Covid pass has also been added. The COVID-19 vaccination card in the Wallet app shows the number of doses you have received, the dates the doses were received, your name, the vaccine insurer, and the vaccine manufacturer. Additionally, there is a QR code for easy verification.

In short, since 2011 the wallet app, which has become a card in France, is part of our uses and as in the United States. Apple Pay remains the leading player in mobile payments, with 43.9 million users in 2021. Starbucks will remain number 2 with 31.2 million users, followed by Google Pay and Samsung Pay, which is experiencing stagnant growth. The announcement and repositioning of Samsung tools should allow you to get back into the game, hence the announcement with cryptocurrencies!

Samsung wallet

It’s a new platform that allows users to organize their digital keys, boarding passes, IDs, and more in a secure and easy-to-use mobile app, which Apple has been doing for a long time. Samsung Wallet is protected by Samsung Knox security and leverages an open Galaxy ecosystem by integrating with Samsung Blockchain Wallet to easily monitor cryptocurrencies and SmartThings to unlock doors.

You may remember Samsung Pay, a payment service mobile payment which the company launched in 2015 and has slowly grown since, as has Samsung Pass, a money-saving app biometric information such as fingerprints or facial recognition data to log into apps and websites. Samsung Wallet also combines the two services with Samsung Blockchain Wallet (which allows you to store and send cryptocurrencies) and the Samsung SmartThings smart home system. Everything is protected by the Samsung Knox security system.

Samsung Wallet also incorporates Samsung Pass functionality which stores securely passwords and allows users to quickly and easily connect to applications and services. It also helps users quickly monitor their digital asset portfolio by checking the value of their cryptocurrencies on various exchanges in one place. By the end of the year, Samsung Wallet will also start supporting identity documents official documents, such as mobile driver’s licenses and student cards. Other important documents, such as proof of COVID-19 vaccination status, can also be safely stored.

Thanks to the integration of SmartThings and Samsung’s partnerships with 9 companies. Users can easily add digital keys to easily lock and unlock doors with a Galaxy device. It also supports Samsung Wallet car keys on some BMW, Genesis and Hyundai models which allow users to lock and unlock cars, start engines, etc. Samsung’s initial partnership with Korean Air also allows for storage boarding passes from Korean Air into the Samsung wallet for easy access, making boarding as easy as logging into an online account.

In addition to the US, Galaxy users in five markets – France, Germany, Italy, Spain and the UK – can simply open the Samsung Pay or Samsung Pass app from their eligible Galaxy 10 devices and follow the prompt to upgrade and migrate to Wallet Samsung. The launch of Samsung Wallet signals that tech companies are increasingly relying on apps and services to block existing users.

Americans are increasingly embracing the idea of ​​replacing their physical credit cards with digital ones. The use of in-store mobile payment services is projected to exceed 50% of all smartphone users in the United States by 2025, according to a 2021 report by electronic market .

Leave a Comment