Samsung Prepares for Olympics With Mobile Payments Rollout in Brazil
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Samsung Electronics is introducing its mobile-payments app in Brazil, a bet that the Olympics Games in Rio de Janeiro can be a springboard to more markets in Latin America where phones have become a key gateway to the web.
Samsung Pay, which debuted in South Korea last August and became available in the U.S. in September, will be the only payments system available to mobile-phone users at the Games, according to Haley Kim, the unit’s vice president.
South Korea’s largest company is competing against Alphabet’s Google and Apple to capture a piece of a market that Forrester Research estimates will top $142 billion by 2019. For all three companies, mobile-payments services are a way to entice consumers to pick their devices — whether it’s an Android phone, iPhone or Galaxy.
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