The international tech gaints Google, Samsung have their own payment systems in association with number of banks located in various countries. Google has Google Wallet since a long time and the service was renamed as Android Pay in the recent past.
On the other hand, Samsung started dedicated payment authentication service exclusively for the Samsung smartphones with the name Samsung Pay. The service is now available in Australia, Canada, Brazil, China and few other countries across the globe. Samsung is planning to roll out Samsung Pay in India in the first quarter of 2017.
Samsung Pay has association with State Bank of India, Axis Bank, ICICI, HDFC, Andhra Bank and few other private and nationalized banks in India.
Once the service is rolled out those who are using Samsung smartphones can link their bank accounts, debit or credit cards with their smartphone and make payments in the retail outlets where Samsung Pay is supported.
Compared to Android Pay, Samsung Pay has limited potentiality because it is restricted to the Samsung devices only whereas Android Pay can be integrated into any Android smartphone available irrespective of the brand and model number.
Anyhow we have to wait to know what extent these international payment systems influence Indian people.