When Apple announced the Apple Watch, there was another announcement that kind of went under the radar. I’m not talking about the iPhone 6 and iPhone 6 Plus, because that kind of announcement was by no means subtle. I am talking about Apple Pay, a way of doing mobile payments that easily change the way we buy.
I can’t help but think that Samsung has begun work on a mobile payment strategy to compete with what Apple is doing, and smartwatches could play a big role with this. The company wants to put fingerprint sensors on their smartwatches such as the Gear in order that users can process mobile payments.
According to my Source, Samsung wants to team up with PayPal to make this happen. Samsung wants people to create a system where users can pay for something using biometric verification, and the transaction will go straight to PayPal, the world’s most renowned financial transaction service company.
On a related note, I have heard that Ebay and PayPal have recently gone their separate ways, which means that the mobile payment company could really specialize with mobile payments. If this Samsung/PayPal deal is true, then Samsung could have this new PayPal mobile payment system on their third generation of smartwatches.