Report: Samsung Pay To Enable Online Shopping, Continue Dominance Over Apple Pay

The global smartphone battle between industry giants Apple Inc. AAPL and Samsung Electronics Co is merely beginning to heat up ahead of the new year.

According to Reuters, Samsung is looking to continue beating Apple in terms of mobile payments. Samsung smartphone users will soon be able shop online with smartphones that support its electronic wallet.

Reuters noted Samsung Pay is already the most widely accepted mobile wallet in the US because it is compatible with new and older credit card terminals. On the other hand, Apple Pay requires retailers to install new equipment that supports near-field communication technologies.

"For Samsung, moving online could be a smart move," James Wester, research director, global payments, at IDC Financial Insights, told Reuters. "It will help them build customer habit and they can benefit from that when U.S. consumers transact in stores."