Samsung launches its Wallet with a 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 elements until the third. Both companies aim to replace your physical keys and wallet with a digital wallet stored on your phone. At WWDC22, Apple announced its card app, which now expands support for keys and IDs. Users can store their ID here for easier access to apps that perform age and identity verification. To protect the privacy of individuals using this feature and ensure their security, only the information necessary for the transaction is transferred to the app. Users must also be informed and give their consent before sharing. The Maps app also lets you store home, hotel, office, and car keys for secure sharing via Messaging, Mail, and other apps.

Apple Pay is probably the first way for iPhone users to be exposed to the Maps app. Having a digital wallet on your mobile drives mobile commerce and also provides a scalable way to reduce transaction friction and maximize customer loyalty. But for a couple of years now, they’ve been sending all your purchases that require a passport, such as a plane or train ticket – the common point is often the QR code that needs to be identified. The digital wallet is the engine of mobile commerce and also provides a scalable way to reduce transaction friction and maximize customer loyalty.

Some car insurance companies allow you to add your police card to the Wallet application in some countries such as USA, Canada … The Covid passport has also been added. The COVID-19 vaccination card in the Wallet app shows the number of doses you have received, the dates of receipt of the doses, your name, the vaccine insurance company and the vaccine manufacturer. In addition, there is a QR code for easy verification.

In short, since 2011, the wallet app, which has become a card in France, is part of our applications and as in the United States. Apple Pay remains the leading player in mobile payments with 43.9 million users in 2021. Starbucks remains number 2 with 31.2 million users, followed by Google Pay and Samsung Pay, which are experiencing stagnant growth. The advertising and repositioning of Samsung tools should make it possible to get back in the race, hence the advertising with crypto!

Samsung wallet

It’s a new platform that lets users organize their digital keys, boarding passes, IDs and more into one secure and easy-to-use mobile app, which Apple has been doing for a long time. Samsung Wallet is protected by Samsung Knox security and leverages an open Galaxy ecosystem by integrating with the Samsung Blockchain Wallet to easily monitor cryptocurrencies and SmartThings to unlock doors.

You may remember Samsung Pay, a payment service mobile payment which the company launched in 2015 and has slowly grown since, as well as the Samsung Pass, an app that lets you save biometric information such as fingerprints or face recognition data to log in to apps and websites. Samsung Wallet also combines the two services with Samsung Blockchain Wallet (which allows you to save and send cryptocurrencies) and Samsung SmartThing’s smart home system. Everything is protected by the Samsung Knox security system.

Samsung Wallet also incorporates the functionality of Samsung Pass, which stores securely the passwords and allows users to quickly and easily connect to applications and services. It even helps users quickly monitor their digital asset portfolio by checking the value of their cryptocurrencies on different exchanges in one place. Later this year, the Samsung Wallet will also start supporting identity documents official documents, such as mobile driving licenses and student cards. Other important documents, such as proof of COVID-19 vaccination status, can also be kept safely.

Thanks to the integration of SmartThings and Samsung’s partnerships with 9 companies. Users can easily add digital keys to easily lock and unlock their doors with a Galaxy device. Samsung Wallet also supports car keys on select BMW, Genesis and Hyundai models, which allow users to lock and unlock cars, start engines, etc. Samsung’s initial partnership with Korean Air also allows storage boarding pass from Korean Air in the Samsung wallet for easy access, making boarding as easy as logging in to 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 qualified Galaxy 10 devices and follow the prompt to update and migrate to Samsung Wallet. The launch of Samsung Wallet signals that technology companies are increasingly relying on apps and services to lock in existing users.

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

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