Samsung Pay mobile payments expected in September

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The South Korean technology company Samsung Electronics, said this week that it will launch its own mobile payments system in the USA and South Korea this September.

Samsung Pay will be available around the time of the company’s next flagship smartphone, the Galaxy Note 5, expected in September, and it will also be rolled out gradually to include China, Europe, Australia and Latin America, according to Samsung’s mobile chief, Rhee In-jong.

Samsung Pay unveiled with next Galaxy Note

Most industry watches expect the next version of the company’s popular Galaxy Note phablet to be unveiled at the IFA electronics show in Berlin, which occurs in the autumn.

Samsung first revealed Samsung Pay earlier this year when it revealed the Galaxy S6 and Galaxy S6 Edge smartphones. The company at the time said that its mobile wallet and payments service would be available later in 2015.

The company’s mobile chief said that less than 10% of iPhone 6 users use Apple Pay, but Samsung aims to have around 15 to 20% of its users making use of its new mobile payments scheme.

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Samsung Pay

Many in the industry have said that Samsung stands out from the competition as its supports nearly all forms of payment, such as NFC, magnetic secure transmission and even barcode technologies, which reached more cash tills than most of its rivals.

The technology was basically acquired by Samsung after it acquired US mobile company LoopPay, which has a payment solution that works with existing magnetic strip card readers.

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Unfortunately for readers in Thailand, there aren’t really any mobile payment system yet available. Apple Pay is not yet available (it’s only in the US at the moment), and there’s no firm date when Samsung Pay may come to the region. It looks like Thailand will just have to wait for the time being…

SOURCE: Korea Herald.

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