Digital Payments, is the effort to all of us, that allows you to make payments at any local and online store via your mobile phone (smartphone) via NFC. The Near Field Communication (NFC) is a communication method between two devices, and it works to read and send information via radio waves.
Today, every smartphone users are aware of NFC and their usage. And over 30% of people are using the smartphone to make payment in online or local stores. As you are a tech geek, then you will know very well about, there are plenty of payment methods are available on the market, and they also offer a high-grade security feature, so that user can make payment more securely without any problem.
Today, there are three top best digital payment methods are available in the market, such as Google Pay, Apple Pay, and Samsung Pay, and each payment methods are much popular and come with plenty of features so that user can easily use these payment methods on their smartphones.
Apple Pay is the first Mobile Payment solution that launched in 2014 by Apple Inc. for all the Apple users so that the user can make payment using their Apple Pay at the nearest local store or any online store. After the Apple Pay, the Android Pay and Samsung Pay were launched. And today,
the Android Pay and Samsung Pay have become more popular than Apple Pay. Because there are over two billion active users of Android, and Apple says, that there are over 77 million users that are using the iPhone. As we all know that the Android is the most popular and widely used operating system on a smartphone, which offers the full freedom to their user to control and customize the smartphone.
Like the Apple Pay, the Android Pay and Samsung pay, both are the payment system and designed to let the user make payment while shopping via their mobile phones instead of credit or debit cards. Here, in this article, we have mentioned the complete information about these three payment systems along with Pros and Cons. So, check out that which one is the best that you want to use as a default payment system on your device.
Google Pay vs Apple Pay vs Samsung Pay
Apple Pay:
On this guide, first, we will talk about the Apple Pay payment system, which is also a Mobile Wallet that you can use as your other mobile wallet to make payment while shopping. As we have mentioned above, the Apple Pay was launched in 2014 by Apple Inc. and that time, and it was developed to support the only iPhone 6 and iPhone 6 Plus smartphones.
But after, the services were extended to supports all the latest Apple iPhones, and now the Apple Pay supports almost all the recently launched Apple devices such as iPhone SE, iPhone 6, iPhone 6s Plus, iPhone 7, iPhone 7 Plus, iPhone 8, iPhone 8 Plus and iPhone X, etc. If you have one of these devices, then you can easily use Apple Pay in your country to shop for Food, Groceries, etc.
In other words, the Apple Pay is a simple and easy payment solution for Apple users, and they can use this app on their iPhones to make payment while shopping on the internet or any local store.
Today, Apple Pay payment is also available on Apple Watch, and you can also make payment via your Apple Watch at any store. Like the other payment system, the Apple Pay also uses the NFC hardware of your devices, to make a secure and instant connection. You can also use the Apple Pay at any online store that supports the “Apple Pay” payment method.
Pros
With the Apple Pay, you will get the support of plenty of banks, which means, the Apple Pay is supported in over 27 countries and territories. And Apple has also expanded to over 50 percent of their all retailers.
Now, the Apple Pay supports approx all banks in the US, So that user can use Apple Pay with easily and without any problem, and they can also add multiple cards without any limitation to their Apple Pay account. For the security, the Apple Pay uses the Fingerprint ID to verify your identity, and after the verification, you can make payment.
Cons
The biggest issue with the Apple Pay which is, that it only supports their own devices and apps. Outside of the limitation, you can’t use the Apple Pay to make payment.
Google Pay
Previously we call it as Android Pay, but it was renamed to Google Pay after that. Worldwide, Google Pay is the most used and popular payment method that supports all the payment systems. You can use Google Pay to make payment at any local and online stores that support Google Pay. After the being launched as Google Pay, Google has crossed the mark of over billions of users that currently using the Google Pay payment system to make a payment on Google, any local store, or at the online store.
In India, you can connect your Bank directly using UPI on Google Pay, so that you can make a payment from Google Pay using your UPI.
There are many Android Wear smartwatches are also available on the market that also supports “Google Pay” payment system. If you are using Google Pay on your Android smartphone, then the Google Pay can also be used at online stores, supported apps and websites.
There some retailers also that supports “Google Pay” payment system. After the Google Pay, Google has also launched, its own UPI based separate payment service in India that works with the Indian government’s Unified Payments Interface for the Mobile to bank transactions.
Google Pay can also be used on many NFC-enabled ATMs so that user can easily withdraw the money from their bank account without having the physical card. And like the Apple Pay, you can also add multiple gift cards and retailer rewards cards on your Google Pay account.
Pros
As we have mentioned the above that the Apple Pay restricted to a limited number of devices, such as Apple iPhone, iPad, iMac, etc. But the Google Pay supports all the NFC-based Android smartphone and allows you to make payment. Unlike Apple Pay, Google Pay works on most Android NFC based Android smartphones and Android-wear based devices.
The Google Pay also supports the PIN passcode instead of Fingerprint, if your device has not Fingerprint scanner. In the US, over 1000 banks and other finance units support Android Pay. Additionally, over 1.5 million retail stores are also supporting Google Pay as an alternative payment system.
Cons
As we have mentioned above that the Apple Pay supports all the Major Banks in the US, but the Android Pay does not support the all Major Banks, and this is an only drawback of Android Pay. To get rid of this, you will need to use the both Android Pay and Apple Pay.
Samsung Pay:
Samsung Pay is a most advanced and highly featured Payment system from Samsung and supports all the recently launched Smartphone such as Galaxy S7, S7 Edge, Galaxy S8 and S8 Plus, Galaxy S9 and S9 Plus, etc. Along with these smartphones, the Samsung Pay also supports the Android Wear devices such as Samsung Gear S2 and S3. With the Samsung Pay, User can easily make payment on all the NFC-based terminals.
But User can also make payment on that POS system which supports the older Magnetic Secure Transmission (MST) technology. But to use this feature, make sure that you are using one of recently launched Samsung Galaxy smartphone.
Because Samsung has put in a magnetic coil inside some of its recent Galaxy smartphones, which allows you make payment without NFC using a “Magnetic Secure Transmission” (MST) technology. Additionally, the Samsung Pay can also add every card with a barcode, so that user can add multiple cards such as loyalty card, membership card, and rewards cards to your Samsung phone or any wearable device.
Unlike the Android Pay, the Samsung Pay supports over 1700+ banks and other credit units. And on the Samsung Pay, the user can add any cards that issued by the partner banks.
On Samsung devices, the Samsung Pay supports the multiple security checks which user can set to verify the identity before making the payment. And in these security features, the user can set Fingerprint, Iris, and Pin, on their Samsung device to make their every transaction fully secure and safe.
Pros
The biggest advantage of using Samsung Pay is that users can easily use it on both NFC-based POS terminals and Magnetic Secure Transmission (MST) technology based POS terminals without any problem. So, if you are using any of the recently launched Samsung Galaxy smartphones, then the Samsung Pay can be the best option for you.
Cons
The biggest drawback of the Samsung Pay is that it only works on a recently launched Android-based Samsung smartphones. To use Samsung pay, you will need to use any of the recently launched Samsung smartphones that support NFC or Magnetic Secure Transmission (MST) technology.
Conclusion
As you have seen the top three major mobile payment systems, and each payment system has their advantages and drawbacks too. Regarding the features and security checks, these all are the best Mobile Payment systems that user can easily on their smartphone to make payment at any local, online store.
In terms of compatibility, the Samsung Pay is the perfect payment system, but only with the recently launched Samsung smartphone. So, what you think about these all three major payment system, tell us your thoughts in the comment section below.
