Samsung has discontinued Samsung Pay to make way for the introduction of Samsung Wallet.
Google bid farewell to Google Pay a few months back, subsequently introducing the revamped Samsung Wallet. Now, it seems that Samsung is following suit within its own realm, announcing the launch of Samsung Wallet. This new app will merge Samsung Pay and Samsung Pass into a single, all-encompassing platform.
Samsung Wallet will serve as a digital storage space for your virtual cards, allowing you to conveniently make contactless transactions at NFC-equipped payment terminals. It also caters to presenting your boarding passes and loyalty cards. Later this year, support for identification cards, such as driver's licenses and student IDs, will become available.
If you employ a digital key for home access via a smart lock, this functionality will be accessible through the SmartThings integration within Samsung Wallet. Samsung has forged partnerships with nine home security companies, including August, Kwikset, and Schlage, to provide digital home keys. By approaching your house with your smartphone, you'll be able to unlock the door without the need for a physical key. This feature is reminiscent of a service already available on supported iPhones and Apple Watches.
For cryptocurrency enthusiasts, Samsung has announced that the Blockchain Wallet will be accessible through Samsung Wallet. However, details regarding functionality are sparse in the initial press release. Samsung simply states that the Blockchain Wallet will enable users to monitor their digital asset portfolio by checking the value of their cryptocurrencies across various exchanges. The service will only be available on "select exchanges," implying its usefulness may vary depending on where users store their digital currency.
Lastly, Samsung Wallet will also support digital car keys, similar to offerings from Google and Apple. Various BMW, Genesis, and Hyundai models will boast this feature, allowing users to lock and unlock cars using Samsung Wallet and even start engines remotely. Welcome to the future, folks!
You may be curious as to why Samsung, given that its mobile devices run on Google's Android, would choose to introduce its own wallet app alongside Google Wallet (or is it Google Pay?). In its press release, Samsung plans to expand upon the offerings of its wallet app in the future.
While Samsung's payment app may not be a bad option for those sporting Samsung smartphones or Samsung smartwatches paired with other Android devices, it's certainly an interesting addition for Android users who have grown tired of waiting for Google Wallet's integration into Android 13.
Google Pay will continue to operate as a service, although Samsung Wallet will replace it in the Google Play Store. Once upgraded to Samsung Wallet, the standalone versions of Samsung Pay and Samsung Pass will no longer be usable.
The integration of Samsung Wallet with the SmartThings platform indicates a future where physical keys might become obsolete, as digital keys for home access can be managed within the app. This technology-driven shift aligns with the broader trajectory of the tech industry towards contactless and automated solutions.
The inclusion of Blockchain Wallet within Samsung Wallet underscores Samsung's commitment to the future of digital currency, allowing users to monitor their cryptocurrency portfolio across various exchanges, setting a precedent for a tech-driven financial future.
