Samsung just announced their latest smartphones at Mobile World Congress, the new Galaxy S6 and Galaxy S6 Edge and now they have announced their new mobile payment service, Samsung Pay.
Last month Samsung announced that they had purchased mobile payment service LoopPay, and Samsung are using the technology they bought in their new Samsung Pay mobile payment system.
Samsung have already teamed up with Visa and MasterCard, plus a range of banks including Bank of America, American Express and more.
Samsung Pay uses NFC for mobile payments and a new technology called Magnetic Secure Transmission or MST and the new mobile payment system will be available on the Samsung Galaxy S6 and S6 Edge smartphones.
“Samsung Pay will reinvent how people pay for goods and services and transform how they use their smartphones,” said JK Shin, CEO and Head of IT & Mobile Communications Division at Samsung Electronics. “The secure and simple payment process, coupled with our robust partner network, makes Samsung Pay a truly game-changing service that will bring value to consumers and our partners in the ecosystem.”
You can find out more information about Samsung Pay at the link below, it will launch in the US and South Korea in the summer and will then be rolled out to more countries.
Source Samsung
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