Samsung reports a $16.8 million loss for Samsung Pay in 2015

While Samsung Pay is supposed to make money for Samsung, the company has reported that its mobile payment service lost $16.8 million in 2015. While that pay sound like Samsung Pay is off to a rough start, Samsung isn't worried. Samsung Pay gives its flagship smartphones a competitive advantage over the competition and the service will likely turn profitable during 2016.

 

[overlordror]

Not surprising, really. Any new tech like this is going to have massive start up costs related to getting people to adopt it. Look at it a few years from now to see how well it's doing.