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Who Will Be the Winner in E-Payment Market (Samsung Vs. Google Vs This material is exclusively prepared for Ringle customers Material for your English session Who will be the winner in e-payment market (Samsung vs. Google vs. Apple) E-Payment war initiated by IT giants (Apple Pay, Samsung Pay, Google Wallet) Ringle Great people. Great conversation. Great English. Just for you 0 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers Required preparations before the session (For Student) Step 1: Please read the summary (Written in English on page 2) Step 2: Please read today’s article (on page 3~7) Article #1: Apple Inc.’s Success with Apple Pay Galvanizes Google and Samsung Article #2: Samsung acquired LoopPay to beat Apple Pay (Apple Pay, Samsung Pay, Google Wallet: A guide to mobile payment apps) Step 3: Please view the following video clip (links on page 8) Video #1: Samsung Pay Vs Apple Pay (Samsung Keynote 2015) Video #2: How e-payment works (Intro of LoopPay which was acquired by Samsung) Video #3: Federal government to start accepting Apple Pay in Fall (A speech by Tim Cook, a CEO of Apple) Step 4: Please check the 8 key questions listed on page 9~10 Step 5: Please study the key business-related expressions and terms on page 11~15 Step 6: Please finish the 2 assignments before the session Assignment #1: Prepare a brief summary of this article (up to 2 minutes presentation) Assignment #2: Build your own perspectives and short answers for each key question (up to 1~2 minutes speech for each question) 1 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers [Summary] Apple, Google and Samsung started a race for dominance in the market for E-payment. In 2014, Apple Pay went ahead by obtaining more than 50% share of E-payment market. Samsung Pay struck back by acquiring LoopPay which had a technology compatible with a higher percentage of U.S. merchants than that of Apple Pay. Google Wallet is trying to catch up by acquiring Softcard E-payment solutions from these three companies support both online and offline payments and consolidates multiple credit cards into one smartphone solution. It is possible to make payments with only your smartphone and your smartphone will automatically find the credit card that offers the most reward at each shop you visit. Also it is much easier to manage your credit cards with these E-payment solutions. But E-payment solutions have several major issues to address before they can be reliable. Security is a major issue with these solutions. For example, if you are using an E-payment solution, losing your smartphone means you just lost all of your credit card information used for your E- payments. Also there is the issue of privacy as companies offering E-payment solutions will have access to your purchase history and credit card information. E-payment market is likely to grow rapidly in South Korea as well. It was hard to develop and launch E-payment solutions under South Korean regulations. However, with its ability to influence government policies and regulations, Samsung is now focusing on Fin-tech and we are already seeing major changes lead in E-payment market lead by Samsung Pay in South Korea. Who will end up as the winner in the race for dominance in E-payment market? Will E- payment solutions be a major disruption to the traditional payment market? Use your Ringle sessions to exchange opinions with Ringle tutors. 2 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers [Today’s article] Samsung acquired LoopPay to beat Apple Pay (Apple Pay, Samsung Pay, Google Wallet, and more: A guide to mobile payment apps ) Security, savings, and convenience attract shoppers to 'mobile wallets,' payment apps such as Apple Pay, now available for phones and tablets. Check out these options. (Journal published at 2015, March) Mobile payment has been slow to take off. But with Apple and Samsung announcing their apps, this year is [1] poised to be the year of the mobile wallet. Oddly, security is both the biggest reason consumers have been reluctant to embrace the concept, and what just might drive the shift toward mobile wallets in the end. Last year saw [2] security breaches at big retailers like Home Depot and Target; and mobile wallets seem more attractive because many use "tokenization," a transaction process that substitutes credit card numbers with one-time secure tokens. This is meant to make your credit card data immune to those types of databases hacks, because the stores never have your card numbers. The recent [3] flurry of data breaches is also driving the replacement of the current swipe-and-sign credit card with chip and PIN cards, which create single-use codes and sometimes require the entry of a PIN for added security. As stores switch to the EMV system, these updates are also very likely to include compatibility for near field communication (NFC), the tap-to-pay technology used by many mobile wallets that allows customers to pay by holding their phones in front of a device at the register. This past October, only 2.4% of retailers that accepted credit cards had the NFC technology to accept the then-new Apple Pay. That's likely to be very different this October, when the deadline for retailers to update to the new EMV system comes. Security isn't the only [4] draw of these services: They promise increased deals, savings, and convenience too. Companies that are trying to make it easier for retailers to turn their ads into clickable deals for Apple 3 본 자료는 저작권 법에 의해 보호되는 저작물로, Ringle 사에 저작권이 존재합니다. 해당 자료에 대한 무단 복제/배포를 금하며, 해당 자료로 수익을 얻거나 이에 상응하는 혜택을 누릴 시 Ringle 과 사전 협의가 없는 경우 고소/고발 조치 될 수 있습니다. This material is exclusively prepared for Ringle customers Pay, Google Wallet, and other mobile wallets, and for shoppers to receive coupons when they're near a store. A Comparison of All the Major Mobile Wallet Options Thinking about switching to a mobile wallet? Here's what you should know about the top contenders, and their [5] pros and cons. [Apple Pay] The October launch of Apple Pay [6] put the spotlight back on mobile wallets. By early March, the number of retailers that accept NFC mobile payments jumped to 700,000, with as many as 50,000 Coca- Cola vending machines. Apple Pay is also reportedly doing well on app and online purchases; according to a recent Fortune.com post, Apple Pay is the top payment method at Staples.com. A recent study, however, found that only 6% of iPhone 6 and 6 Plus users had used Apple Pay so far. Setup: Apple Pay is set up through the Passbook app installed on Apple devices. Apple Pay is compatible only with newer devices: the iPhone 6 and 6+, the iPad Air 2 and Mini 3, and the upcoming Apple Watch. Payment: To pay, put the device near the store's reader and place your thumb on the device's Touch ID sensor to confirm your identity. You can also easily pay within apps. Loyalty programs, gift cards, and coupons: The PassBook app was originally designed to hold loyalty cards, gift cards, concert and movie tickets, and coupons. Security: Apple Pay uses tokenization for secure payments, and the info is stored on a chip within the device itself. Apple doesn't store transaction details and doesn't collect information about what you buy. If the phone is lost or stolen, use Find My Phone to put it in Lost Mode, which will suspend Apple Pay. Or you can completely erase all information, including credit and debit cards, from the phone. While Apple Pay users' information is safe, identity thieves are using Apple Pay to set up iPhones with stolen information and then using the system, often to buy high-price Apple items and re-selling them. However, a recent article by The New York Times says the problem may be the banks, as they are responsible for approving the cards loaded to the mobile wallet. Verification has often been the last four digits of a social security card — something ID thieves often have. (Mashable notes the issue might not [7] be unique to Apple Pay.) [Google Wallet] When Google Wallet launched in 2011, it failed to take the world by storm, partially because many major wireless providers instead supported the Softcard (formerly Isis) mobile wallet and even blocked Google Wallet from working on their phones. Earlier this year, however, Google acquired Softcard and announced that Google Wallet will be pre-installed on Verizon, T-Mobile, and AT&T Android devices. (If you're wondering about Android Pay, it's not a consumer app, but an API for developers to use Google technology to create their own payment apps.) Setup: Users can put in multiple credit cards and select one as the default tap-and-pay option.
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