Samsung Pay Introduces a New Gift Card Store

Samsung Pay Gift Cards
Image © Samsung.

Dec 23, 2015

Samsung Pay is obviously keen on reaping greater results from its mCommerce efforts this holiday season – the company is now delving deeper into the field of digital gift cards. The giant is introducing a new gift card store, which offers users the convenience of purchasing these products from established merchants, via their mobile phones. This will help it gain yet more traction in the mobile payments industry as well.

At the present time, Samsung Pay supports 50 well-known gift card retailers, including big names such as Domino’s, eBay, Nike, Staples, GameStop and Toys R Us. Holiday shopping is always more hectic, with shoppers clamoring to make purchases till the very last moment. With mobile payment booming this year, the giant is doing its best to attract customers by offering them a convenient platform to purchase and pay for gifts via their smartphones and tablets.

Benefits of Digital Gift Cards

Customers who store these digital gift cards will no more have to keep track of their purchases and balance. It will all be managed for them by their mobile wallets or retailer apps. This also implies that they no longer need to carry a physical card – it exists within their smartphone.

Samsung Pay was introduced in the US, just this September.

Hence, it is quite a new service, which faces stiff competition from the big players such as Apple Pay and Google Wallet. The company’s new introduction is quite likely to catapult it to a higher level, whereby it can offer some competition to its prime rivals.

The mobile commerce platform is now compatible with major payment terminals, including NFC, EMV and magnetic stripe services.

Samsung plans to improve upon its service, my making it yet more flexible; and adding more choices and options in the coming few months.

Ease of Payment

As of now, customers can use these cards across the United States of America and can use the Samsung Pay app to purchase gifts for their near and dear ones. This service supports most of the major banks in the US and has also partnered with credit card companies such as Visa, MasterCard and American Express.

Customers wanting to use this service merely need to swipe upward within the app and authenticate themselves with their fingerprint. In order to maintain maximum security while going through the payment process, this service stipulates both tokenization and a fingerprint authentication system.

Will Samsung Emerge the Winner?

In the recent past, quite a few brands have made their foray into the digital gifting industry. Earlier this year, Dunkin’ Donuts had distributed mobile gift cards to winners of its sweepstakes, apart from gifting mobile coupons to app users.

Samsung’s new service may prompt other mobile companies to enter the arena as well.

This platform may also encourage existing Samsung customers to try out the service. However, it may not necessarily encourage more people to purchase its handsets.

Mobile payments and gift cards are trends that are just taking off. The percentage of users is still quite small and there is yet no clear winner. Samsung will have to offer unique features with its service and truly wow its audience, if it wants to make a clear mark in this market. Up until then, the company will end up being just another mobile purchases and payments service provider.