Along with the Galaxy Note5 and Galaxy S6 Edge+, Samsung announced Samsung Pay launch dates for the US and South Korea. The mobile payment will launch first in South Korea on August 20th and in the US on September 28th. Samsung also plans to extend the service to China, Spain and UK.
Samsung Pay is a secure and easy-to-use mobile payment which leverage both Near-Field-Communication (NFC) and Samsung’s proprietary MST (Magnetic Secure Transmission) technology to make payments in terminals around the world that supports swiping a card.
Making payments using Samsung Pay is very easy; the first thing is to swipe up, scan the fingerprint and make payment. Once this is done, Samsung takes over by ensuring the transaction is totally secure by using Samsung KNOX, tokenization and fingerprint.
Commenting at the launch of the Samsung Galaxy Note5 and Galaxy S6 Edge+, CEO and Head of IT & Mobile Communications Division at Samsung Electronics, JK Shin said,
“With the launches of these exciting new smartphones, we will open a new era of mobile payment. This is Samsung’s brave step forward to enhance our mobile experience. It is easy, safe, and most importantly, available virtually anywhere you can swipe a card, in most cases without new costs for merchants, from day one.”
Also echoing the same sentiment, EVP of Samsung Electronics, Global Head of Samsung Pay, InJhong Rhee said,
“The future of mobile payments has arrived. We are partnering with card networks, issuers and acquirers, and Samsung Pay will also be the first to support contactless payment for store-branded credit cards. The list of partners will only grow.”
At the moment, only the Samsung Galaxy S6, Galaxy S5 Edge, Galaxy Note5 and the Galaxy S6 Edge+ will support the payment system. The just announced phablets come pre-loaded with Samsung Pay while a software update will be sent out by Mid-August to Galaxy S6 and S6 Edge devices in the US.
Beta trail for the service starts on August 25 for select US users and anyone of them who owns any of the above four devices listed would be able to take part ahead of the September 28 launch date. Older Samsung devices are not compatible and there is no word if they would be able to eventually support Samsung Pay.
Source: Samsung
