Samsung launches wallet with cryptocurrency service

Samsung announced the launch of Samsung Wallet

You probably take three things with you when you leave the house: your wallet, your keys, and your phone. Apple, Google and now Samsung are trying to remove two of these items up to the third. Both companies aim to replace your physical keys and wallet with a digital wallet stored on your phone.

At WWDC22, Apple made announcements of its Card app that now expands support for keys and IDs. Users can save their identity here to make it easier to access apps that verify age and identity. To protect the privacy of people using this feature and ensure their security, only information necessary for a transaction is transmitted to the app. Users must also be informed and given their consent before sharing. The Maps app also lets you store your home, hotel, office, and car keys for secure sharing via messages, mail, and other apps.

Apple Pay is probably the first way for iPhone users to get to know the Card app. Having a digital wallet on your mobile drives mobile commerce and also provides a scalable path to reduce transaction friction and increase customer loyalty. But for a few years now, they’ve shipped all of your purchases that require a permit such as a plane or train ticket – the common point is often a QR code that must be selected. The digital wallet is the engine of mobile commerce and 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 app in some countries such as the United States and Canada…Covid Card has been added as well. The Covid-19 vaccination card in the Wallet app shows the number of doses you received, the dates you received the doses, your name, the vaccine insurer, and the vaccine manufacturer. In addition, there is a QR code for easy verification.

In short, since 2011, the Wallet app, which became Card in France, has become part of our uses, as it is in the United States. Apple Pay remains the leading player in mobile payments, with 43.9 million users in 2021. Starbucks will remain in second place with 31.2 million users, followed by Google Pay and Samsung Pay, which are simultaneously experiencing stagnant growth. The announcement and repositioning of Samsung gadgets should make it possible to get back in the race, hence the cryptocurrency announcement!

Samsung wallet

It’s a new platform that allows users to organize their digital keys, boarding passes, IDs and more in a secure, easy-to-use mobile app, something Apple has been doing for a long time. Samsung Wallet is protected by Samsung Knox security and enhances the 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 Pay the phone bill Launched by the company in 2015 and has grown slowly since then, in addition to Samsung Pass, an app that allows you to save Biometric information Such as fingerprints or facial recognition data to log into applications and websites. Samsung Wallet also combines the two services with Samsung Blockchain Wallet (which allows you to store and send Cryptocurrency) and the Samsung SmartThings smart home system. Everything is protected by Samsung Knox security system.

Samsung Wallet also includes Samsung Pass function that stores securely passwords It allows users to quickly and easily connect to applications and services. It even helps users to quickly monitor their digital asset portfolio by checking the value of their cryptocurrencies on different exchanges in one place. Later this year, Samsung Wallet will also start support 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 stored securely.

Thanks to SmartThings integration and Samsung’s partnerships with 9 companies. Users can easily add digital keys to easily lock and unlock their doors with their Galaxy device. Samsung Wallet is also supported car keys on select BMW, Genesis and Hyundai models, allowing users to lock and unlock cars, start engines, and more. Samsung’s initial partnership with Korean Air also allows for storage boarding passes of Korean Air in your Samsung wallet for easy access, making boarding a plane 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 update prompt and migrate to Samsung Wallet. The launch of Samsung Wallet shows that tech companies are increasingly relying on apps and services to lock down existing users.

Americans are increasingly embracing the idea of ​​replacing physical credit cards with digital ones. Use of in-store mobile payment services is expected to exceed 50% of all smartphone users in the United States by 2025, according to a 2021 report from eMarketer.

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