Samsung wants to introduce its own contactless payment service, Samsung Pay, in Germany and thus compete with Google and Apple.

The service will start in this country on October 28, announced the South Korean company.

Unlike the competition, the smartphone manufacturer does not cooperate with several banks, but processes all payments via virtual Visa debit cards from Solarisbank.

The amounts are then debited from the customer's bank accounts by Solarisbank.

The new service can be linked to almost any German bank account, said Samsung manager Thorsten Böker.

With its offer, Samsung is primarily competing against Google Pay because the US software company's payment service is also available on Samsung cell phones.

The larger Apple payment service, however, only runs on devices from the Californian manufacturer.

In contrast to Samsung, Google not only cooperates with several banks in Germany, but also offers PayPal as a billing method.

Only a minority use smartphones to pay

Samsung and Solarisbank are also launching an installment payment service called Splitpay at the same time.

For payment amounts of 100 euros or more, customers could have these financed in installments with terms between three and 24 months, said Krishna Chandran from Solarisbank.

"The trend towards contactless and mobile payments has accelerated enormously in the last few months," said Chandran.

According to a survey from last summer in Germany, 39 percent of people have already paid with their smartphone.

For the vast majority of consumers, however, it is still not an everyday means of payment.

Only 13 percent of those surveyed said they would use their smartphone to pay for a € 20 purchase in the supermarket.

41 percent named the EC card as a means of payment, 36 percent cash and nine percent the credit card.