2023-05-10 12:55:18
It is known that Samsung Electronics sent a written notice to the credit card company that it would not extend the existing contract related to Samsung Pay.
According to the industry on the 10th, Samsung Electronics has signed contracts with card companies that include not receiving separate fees for Samsung Pay, and this contract has been automatically extended unless there is a disagreement between the two sides.
However, Samsung Electronics recently informed the credit card company in writing of its policy not to extend the existing contract as it is.
The industry is interpreting that it is not a procedure for charging fees for Samsung Pay. However, it is said that the specific fee rate has not been disclosed.
Accordingly, the existing contract between Samsung Electronics and the credit card company is expected to expire in August this year, and a new contract will be signed under new conditions.
Since Apple Pay is known to receive commissions of up to 0.15% of the payment amount from credit card companies, speculation is emerging that Samsung Pay will not receive a similar level of commission.
Reporter Yoon Soo-kyung
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