With more and more people going and preferring mobile transactions, big brands such as Apple and Samsung only have one option. Cater to the demand by creating a mobile payment platform. With the recent release of Apple’s much talked about iPhone 6S, the giant brand also improved its mobile payment system with the all new Apple Pay. Naturally, Samsung also came up with its own version, the Samsung Pay, to offer iPhone Pay a worthy competition.

Some analysts say the Apple Pay is more superior to the Samsung Pay while others beg to disagree. While not exactly a key selling point for majority of phone users, knowing the difference between these two mobile payments options may prove useful in the end. How do the two payment systems compare and differ? This guide is here for a quick overview.
What are the mobile payment systems for?
The bottom line for both Apple and Samsung pay is one and the same. If you’re the cash or card-carrying type of consumer, these systems let you encode your credit card or debit card info on your smartphone so payments can be made through said smartphone. This also means you won’t need to fumble with cash or credit cards when shopping at retail stores or online.
What are the key differences?
While both payment systems serve one purpose, there are key differences you should know about if you plan to make the most of your smartphone’s mobile payment system.

Technology
One of the key differences between Apple Pay and Samsung Pay is the technology used. Apple went with a more traditional route adoption the NFC standard. If the retailer is NFC reader-equipped, only then can you make payments using Apple Pay. Otherwise, you’ll have to take out your credit card or pay in cash.

Samsung Pay, on hand, is more flexible. After Samsung’s acquisition of LoopPay, the brand’s mobile payment system has more edge thanks to the Magnetic Secure Transmission technology that lets consumers pay digitally as if it’s an NFC standard payment. This means more retailers are Samsung Pay compatible beating Apple Pay in terms of technology.

Support
Apple Pay is currently available on the latest iPhones including iPhone 6, 6 Plus and iPhone 6S and 6S Plus. If you have an Apple Watch, you can pair iPhone 5C, 5 and 5S and use them for Apply Pay purposes. Samsung Pay, on one hand, are available on Samsung Galaxy S6 and later models.

In terms of bank support, Apple Pay has an advantage thanks to over 90 banks that support the said system. Once Samsung Pay launches, however, the smaller number of banks supporting it may change drastically. But for now, Apple Pay is currently ruling it in the UK and US.

Authentication
To make mobile phone payments, both payment systems require authentication using the fingerprint-scanning technology. In this respect, both phones are neck to neck. Samsung and Apple phones use technologies that ensure smooth and secure transactions.

Availability
When it comes to availability, Apple Pay obviously has the upper hand, as it is available first than Samsung Pay. Currently, Apple Pay is already being used in the UK and US with plans of expanding the service to other countries sometime in the very near future hopefully.

With Samsung’s Galaxy S6 Edge+ and Galaxy Note 5 releases this September, it wouldn’t be surprising for Samsung Pay to give Apple Pay a worthy competition. The fact that Samsung Pay’s support is wider than Apple Pay may also indicate the former’s ability to overtake the latter. For now, it’s really just a matter of time.