Mobile Payment Application For South Korea 's Largest Business Corporation

Payment processing has become more universal. Each transaction, whether it's in-store, eCommerce or mobile, needs to deliver a seamless integrated buying experience at any time of the day and on any device being used.

Samsung Electronics UK Limited is a subsidiary of Samsung Electronics. It manufactures, and distributes mobile devices to retailers in different parts of the country. It also manufactures and distributes audiovisuals products, computer-related products, cameras, home appliances

Now it is made possible for you to pay with your phone. When it is time to swipe your card you now have the option to scan your card information of which you have saved from previous purchases through Internet based methods. You can save multiple cards at a time; all you would have to do is choose the card you would like to use. You can also transfer funds from one person to the other, same format as a bank but

Westpac has announced the launch of its own wearable device line called PayWear, instead of relying on other implementing payment technology into other businesses devices. From December, customers applying via Westpac Live for a PayWear Card will have the ability to insert a microchip into devices, which can then be attached to existing personal items, such as a watch.

Samsung products range from mobile devices, TV, audio and video, home appliances, cameras, PC and peripherals and print solutions (Samsung 2014). This essay will predominantly look closely at Samsung’s mobile phones market.

Mobile phones are no longer a communication device, but can be used for several other purposes including executing business operations. After internet banking, it has added another dimension to banking by enabling any kind of banking transactions like payments, balance inquiry and transfer of funds, just by using your mobile phone. Banking transactions over the mobile phone are usually performed either by sending a SMS to the bank or by using mobile internet. When you send a SMS requesting a financial

In many developing countries it's common for a person to have a mobile phone but not a bank account. In fact, more than 1 billion people fit this description, and the number is only likely to increase. To that end, many companies are considering how to give residents access to banking services via their handsets. The GSM Association predicts that by 2012, nearly 300 million of the previously "unbanked" will be using some form of mobile banking.

NFC is the primary piece of key technology in use for payment procedures at this time in the retail consumer sector for offline payments. That said unique bar and QR code authentication developed by companies like tangerine for online and offline authentication are effectively used for mobile payments. The payments

Samsung is a customer oriented organisation by offering products online through portals, phone marketing through short text messages and in stores.

Tap your phone to pay and redeem offers, using NFC (near-field communication). NFC payments are currently only available in the United States.

In 2009, that was a total of 16.2 billion dollars in fees. (Collins, 2011). Consumers are currently using their debit cards more and more, with many of them using the cards almost exclusively as their primary means of payment. Apple Pay is Apple Inc.’s way of getting in on some of those billions of dollars of moving money, as well as trying to provide a service that is potentially more secure than a debit card could ever be. The company 's mobile payment system works in the Passbook app on Apple 's iPhones and Apple Watches, which already allows consumers to store loyalty cards, coupons and airline tickets. Customers will now be able to store their credit card information in Passbook, then be able to touch or wave the phone or watch over a pay terminal in participating stores. The phone uses a near-field communications chip to broadcast through radio waves to the pay terminal all the necessary information to complete the transaction. (Hardekopf, 2014).

Apple Pay is a way for Apple users to pay for something with just the wave of their device. According to Joshua Brustein in his article “Apple Pay is Too Anonymous for Some Retailers”, “Apple Pay works with iPhone 6s, iPhone 6s Plus, iPhone 6, iPhone 6 Plus, iPhone SE and Apple Watch”. (Brustein). It “uses NFC, or near-field communication, technology that enables users of iPhone 6 models to make payments at stores that have upgraded to accept the system” (Krey). Reinhardt Krause states in his article, “IPhone Tap-To-Pay

Both online payment services offer both card readers that will work with mobile devices such as a smartphone or tablet, or you can login with an Internet connection and punch in the person's information manually.

The market for mobile payments is growing at an all time high with a projected increase in global mobile payment volumes. In fact, payment transactions are expected to increase 22% by 2017. The market landscape of mobile payments

Mobile phone payments allow consumers to pay for a wide range of goods and services using phones instead of cash, credit/debit cards and cheques. One of the models for payment is by using Short Message Service (SMS) or Unstructured Supplementary Service Data (USSD). Consumers can send payment requests via text messages that will be charged to their phone bill or online wallet. This mode of payment does not require Internet access, which allows developing nations with poorer population and inferior facilities to participate. An example would be the Nigerian mobile pay service, Paga. Users are simply required to enter their identification number as well as the amount necessary.