Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 29 (Xinhua) Samsung launched Samsung Pay payment service in 2015. After nearly eight years of development, Samsung has partnered with dozens of banks and card providers around the world to bring convenient mobile payments to consumers.

After Apple Pay landed in South Korea, Samsung was forced to change its development strategy. Samsung has never charged banks or card issuers for its Samsung Pay service in the past eight years, but it will follow Apple Pay's lead and start charging banks.

Samsung is developing a new marketing strategy to charge different bank cards from different banks, but can refund fees to banks through certain activities, according to South Korean media Pulse News.

This marketing strategy is similar to that of global payment processing companies such as MasterCard and Visa.

Samsung has not yet confirmed the fee structure and may adopt a variable pricing method taking into account factors such as the market share and payment volume of card issuers.

It is reported that Samsung has issued a notice to 10 credit card companies that they will not renew their contracts. If you charge 0.15% as Apple does, credit card companies may have to pay 70 billion won a year (CTOnews.com Note: currently about 388 million yuan).

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