Major phone company confirms it will offer shoppers a new way to pay in stores – and you don’t need a new credit card
A MAJOR phone company has confirmed that it will now offer shoppers a new way to pay in stores.
The new payment method gives customers more freedom to pay when they want, but only in select states right now.
GettyA major phone company has confirmed that it will now offer shoppers a new way to pay in stores[/caption]
Samsung Electronics America has just announced that installment payments will be available to some Samsung Wallet users.
This will allow you to pay for Samsung products in portions, giving you more freedom to get the item now and pay later.
Samsung is offering customers four different plans to choose from.
The plan began on July 25, but only in select states, with a wider rollout to all states by the end of the year.
You can use it in the following states right now:
Arizona
Arkansas
Colorado
Georgia
Idaho
Illinois
Kansas
Louisiana
Maine
Maryland
Michigan
Missouri
Montana
New Hampshire
New Mexico
North Dakota
Oklahoma
Oregon
Tennessee
Utah
Wyomin
District of Columbia
Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, said: “Our phones go with us everywhere, so we’re making the Samsung Wallet experience as helpful as possible.
“As a comprehensive tool for all of your digital essentials, Wallet is all about flexibility and convenience, and with the addition of Installment payments, we’re making the payment experience even more versatile, providing users with options to make purchases on their own terms.”
Using the payment plan is easy, and it requires nothing from you apart from a few taps on your screen.
There is no need to apply for a new account or have to go through the pain of a credit check.
Instead, when making a purchase using Samsung Wallet, simply tap the “Pay in installments” option.
This can be found under any of your eligible credit cards.
Then, once you complete the purchase in-store, you can select from four different plans to suit your timeline.
The payment options include six payments every two weeks, eight payments every two weeks, six monthly payments or nine monthly payments.
It is important to note that if the user doesn’t select any plan within 24 hours, it will be paid in full.
Samsung – a brief history
Here's what you need to know...
Samsung is a major South Korean company made up of many businesses that operate globally
It’s known locally as a “chaebol”, which means “business conglomerate”
It was founded by Lee Byung-chul in 1938 as a trading company
But over several decades, it branched out into food processing, insurance, textiles and retail
It wasn’t until the late 1960s when Samsung entered the electronics industry – for which it’s best known in the West today
It also launched businesses in construction and shipbuilding in the 1970s
Today, Samsung’s most important sources of income are its smartphones and computer chips
The firm accounts for around a fifth of South Korea’s total exports, and roughly 17% of the country’s GDP
More than 270,000 staff are employed by Samsung globally
And in 2023, Samsung Electronics turned over the equivalent of $194 billion in revenue
MORE PRICE HIKES
But there is some bad news for phones in the US, as several major carriers are upping prices again.
At Verizon, customers on the current myPlan accounts with five or more lines saw a monthly $3 per line increase.
On top of this, those who had multi-line accounts with the company were hit with an increase of $15 per month.
In a statement, Verizon said: “We can confirm we’ve adjusted pricing on some mobile plans for select customers.
“Verizon is committed to delivering unparalleled network reliability, experiences and choices our customers love and expect.
“These price adjustments allow us to continue to provide our customers top-tier products and services, with a focus on ultra-reliable connectivity.”
Customers at AT&T FirstNet have seen an increase of $3 per phone line.
AT&T has stated its price increase will help it “continue to deliver the great wireless service you expect.”
At T-Mobile, plans went up by $5 starting from early April.
T-Mobile says on its support account on X: “While most customers are not included, we’re wrapping up the price adjustments that began last year in response to rising costs.
“We are still committed to providing low prices and the most value across all plans.”
GettySamsung Electronics America has just announced that installment payments will be available to some Samsung Wallet users.[/caption]
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