Samsung launching smart watch with NFC for mobile payments
In South Korean Media rumors has been spotted about Samsung's plan to launch its next smart watch later this year. According to the report the smart watch will be featured with support for NFC and will be used for mobile payments. It is particularly designed for the US and Korea. This NFC service will be between the select partners and will commence next month. However we have seen no official comments from Samsung itself.
This service is already there with Apple Watch. The users of Apple Watch can make the mobile payments via Apple Pay service. Apple provides this service against the 15 cents only means if user transits the amount of $100 the company gets .15%. Apparently this is the very meager figure and we can't imagine big money with this commission but imagine the volume of purchasers and payments made through Apple pay service. Similarly Google has also introduced Android Pay at Google I/O last month but according to Wall Street Journal Google is providing this service free of charge. Banks may consider changing their contract with Apple instead of Google. Banks need commission and Google is a free service therefore they can't go together.
It does not mean that Google does not want money; they do want and they get this money through advertising of Google marketing programs and this way the money is in directly received from the users for the service.