Samsung Pay was introduced as a mobile payment card network that offers a digital replacement for a variety of physical credit, debit, membership and rewards cards. One of the newest features to be announced by Samsung Electronics is that users may now purchase directly from local online shopping malls using its app.
Instead of needing to log in via the online shopping mall's site, Samsung Pay users may simply connect with their Samsung account. Some of the retail partners that have signed on for Samsing Pay Shopping in Asia include Gmarket, Mobile Coupang Mall and Hellolink.
Samsung is also launching Samsung Rewards as its own points program to tally both online and offline purchases. When Samsung Pay users take advantage of the new Samsung Pay Shopping feature, they are eligible to get 2% of their transaction back in points to put towards future purchases. A dedicated membership card for Samsung Rewards is launching soon.
Mobile Mall Wallets
Samsung Pay Members Can Now Use the Mobile Payment Card App for Online Malls
Trend Themes
1. Mobile Payment Shopping - Samsung Pay users can purchase directly from online shopping malls using the app, highlighting a trend towards mobile payment shopping.
2. Digital Replacement of Credit Cards - Samsung Pay is a digital replacement for physical credit, debit, membership and rewards cards, reflecting a trend towards replacement of traditional payment methods.
3. Points-based Loyalty Programs - Samsung Rewards, Samsung Pay's new point-based loyalty program for online and offline purchases, spotlights a trend towards loyalty programs that can be used across multiple platforms.
Industry Implications
1. Retail - Retailers can benefit from developing digital payment options like Samsung Pay, as well as implementing points-based rewards programs to incentivize future purchases.
2. Finance - Finance companies can look into developing mobile payment networks that replace traditional methods such as physical cards.
3. Technology - Technology companies can benefit from creating mobile payment or digital wallet solutions that improve the experience of online shopping and promote loyalty programs.