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Samsung Pay launching in the U.S. and South Korea later this year

Samsung Pay

Samsung’s wireless payment service, known as Samsung Pay will supposedly break cover in the American markets next year. It is said that the company’s home region of South Korea will also get the service at about the same time.

Samsung announced this service during the launch of the Galaxy S6 / Galaxy S6 Edge and promised to revolutionize mobile payments. This is the only wireless payment service out there which also uses the Magnetic Secure Transmission or MST (thanks to its acquisition of LoopPay), meaning it will be compatible with almost any retail outlet that uses the magnetic stripe for card payments. This is a major advantage Samsung has over Apple Pay, which is quite limited in its approach.

The Korean manufacturer has joined forces with big guns like MasterCard, Visa, JP Morgan Chase, Bank of America and several others to bring this idea to fruition. So when it eventually lands in the U.S. markets, it should be something to look out for.

Source: Who Wired

Via: G For Games