Samsung's Latest News Could Hurt Apple, JP Morgan Says

In a report published Monday, JP Morgan analyst Rod Hall commented on Samsung Elect LTD's (OTC: SSNLF) new Galaxy S6 and Galaxy S6 Edge devices and how Samsung Pay will have a "slight negative impact" on Apple Inc. (NASDAQ: AAPL).

Hall wrote that he attended Samsung's launch event and observed first hand that Samsung's new devices are "very nice" and "much better" than last year's Galaxy S5.

See Also: Jefferies: Samsung Pay 'Could Dwarf' Apple Pay

Hall also added that Samsung's inclusion of a new proprietary technology called Magnetic Secure Transmission (MST) put in to question why Apple decided not to use a similar technology in its Apple Pay.

New users of Samsung's S6 devices can use Samsung Pay in merchant locations regardless if the terminals support NFC or traditional magstripe. This contrasts with Apple Pay consumers that cannot make "swipe" purchases on older payment terminals that haven't upgraded to NFC.