Retail in Asia

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Samsung Pay sees virtual reality, in-app purchases in the future

Samsung is looking to step up its effort in electronic payments and is considering catching up with Apple in rolling out in-app purchases using its Samsung Pay – as well looking at the potential of paying in virtual reality (VR).

The South Korean electronics giant launched Samsung Pay last year, its answer to Apply Pay which allows users to tap their phones on a reader to pay for anything.

Samsung Pay recently launched in the US and China after a debut in South Korea. Now the company is considering the next steps to build out the product, which could include loyalty schemes and in-app purchases.

Samsung has been pushing its virtual reality recently. Its Gear VR headset went on sale last year and the South Korean electronics giant launched its 360 degree camera earlier this year to allow uses to film VR video. Now the company sees the worlds of virtual reality and payments converging in the future.

(Source: CNBC)