Samsung struggling to finish Samsung Pay before Sept launch
Despite announcing Samsung Pay earlier this year, Korean tech giant Samsung is still working to finalize the payment processor.
Information coming in from South Korea says that Sammy has partnered with eight debit and credit card companies for the service. Powered with the $300-million-acquired Loop Pay, the Samsung Pay team is said to be still struggling to bring the “fingerprint verification and magnetic field formation” to work properly on affected devices.
Sources say most older card readers are facing trouble reading Samsung Pay equipment. According to Business Korea, 50 percent of card readers in supermarkets, restaurants and other places where Samsung Pay is going to be used, are older than 10 years, and therefore could not work with the kind of magnetic field formation used by Samsung Pay.
Samsung Pay is expected to launch in the United States and South Korea in September 2015, however, the payment service might get be rescheduled following this amount of issues.
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