Samsung Pay vs Google Pay in Canada

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There is a surge in demand for electronic payments and cashless commerce due to different factors. Currently, the primary factor is the Pandemic, as physical interactions have been limited. The rising acceptance of contactless payment has residents reconsidering their payment preferences.

Customers can pay for products and services on the website via online payments. This article will be reviewing two major payment options – Samsung Pay and Google Pay in Canada. 

Samsung Pay in Canada

Samsung Pay is a mobile application that allows users to access funds virtually on their phones. You can use this app to make purchases and payments at almost every store with a POS terminal in Canada.

The app software securely saves the digital version of your cards, allowing you to go shopping without having to carry your wallet or any cash but just your Samsung device.

Eligible Device for Samsung Pay

Below are the eligible devices you can use to initiate Samsung Pay:

  • Galaxy Z Flip
  • Galaxy Fold
  • Galaxy S20 Series 5G
  • Galaxy S10 Series
  • Galaxy S9 & S9+
  • Galaxy S8 & S8+
  • Galaxy S7 & S7 Edge
  • Galaxy S6, S6 Edge & S6 Edge+
  • Galaxy Note10 & Note10+
  • Galaxy Note9
  • Galaxy Note8
  • Galaxy Note5
  • Galaxy A71 & A51
  • Galaxy A50
  • Galaxy A8
  • Galaxy A5
  • Galaxy Watch Active 2
  • Galaxy Watch Active
  • Galaxy Watch
  • Gear S3 Frontier & Classic
  • Gear Sport

How Samsung Pay Works

To use Samsung Pay, first ensure you have an eligible device and debit card that support Samsung pay. Download the app on your Samsung mobile device and watch then follow the steps below:

  • Sign in to your Samsung account
  • Set up a security pass – fingerprint, iris scan, or PIN
  • Manually add or scan your credit/debit card, gift/loyalty cards, or PayPal account to your wallet
  • Wait for your credit/debit card to be verified with your bank – this is done via text message, email, or phone call

You can repeat this process if you decide to add more cards. Samsung Pay allows a maximum of 10 cards to be added to your wallet.

Financial Institutions that Support Samsung Pay

Samsung Pay is prominent and globally accepted. Below are the financial institutions that accept Samsung Pay in Canada:

  • Royal Bank of Canada (RBC)
  • Mastercard
  • Canadian Imperial Bank of Commerce (CIBC)
  • Scotiabank
  • American Express 
  • Tangerine
  • Simplii Financial 
  • Visa
  • PayPal

Pros of Samsung Pay

  • It can be used in stores, within apps, and online.
  • Card details aren’t disclosed to any source making the payment safe and secure.
  • It’s compatible with many Samsung smartwatches and phones.

Cons of Samsung Pay

  • It is limited to Samsung devices 
  • It is not yet accessible at all financial institutions

Google Pay in Canada

Google Pay is a mobile app-based digital wallet that stores your debit/credit cards, loyalty cards, tickets, and coupons. It is the new name for Android Pay and Google Wallet.

Google Pay is similar to a physical wallet, although this app allows you to make secured transactions online using your mobile phone.

How Google Pay Works

You must have an eligible device that supports the 4.4 operating system or above to start using Google Pay in Canada. 

  • Download the app is available on the Google play store
  • Create an account or sign in if you already have an account
  • You can either add a credit/debit card or link the account to your bank account to make payments.

You’ll see a tab labelled “Cards” within the Google Pay app. This is where you’ll keep all of your cards, including debit and credit cards. You can use Google Pay on a card reader by scanning the “G Pay” logo on a card reader without entering a PIN. It is similar to how you can use your actual card to make contactless tap-and-go transactions in shops.

Pros of Google Pay

  • It is secure
  • Makes payment easy
  • It can be used in stores, within apps, and online
  • It’s compatible with a wide range of Android smartphones

Cons of Google Pay

  • It doesn’t work on iPhone
  • It is not yet accessible at all banks

Financial Institutions that Support Google Pay

Financial Institutions that accept Google pay in Canada include:

Samsung Pay vs. Google Pay

Using Samsung Pay vs. Google Pay depends on your financial situation and considerations such as the phone you currently use, country of residency, and other variables.

Samsung Pay is not the best option for you if you don’t have a Samsung device, and for non-Samsung smartphones, Google pay is the only option. Both of these online payment channels are entirely free to use. 

Conclusion 

Before deciding on which payment channel to use, ensure that your smartphone can run any of these applications. If you have a device(s) that can run both applications, you can test both applications and see which one gives you the most outstanding experience.

Some banks do not provide these services, so you might want to contact your bank about the most acceptable online payment option.

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Avid researcher, freelance writer, and personal finance enthusiast passionate about financial education and literacy.

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Kareena Maya

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Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.