Tech giant Samsung will launch its mobile payments service Samsung Pay in South Korea later this month, with Visa, MasterCard and major banks lining up for a US launch in September.
Samsung Pay will launch in South Korea on 20 August and the US on 28 September. It will launch in the UK, Spain and China at a later date.
Samsung Pay will be preloaded on select Galaxy S6 edge+ and Galaxy Note5 devices and a free software upgrade will be rolled out from mid-August to bring the service to Galaxy S6 and S6 edge phones.
Users will be able to activate their credit, debit, reloadable prepaid and small business cards for use with Samsung Pay and use their mobile devices to make purchases at contactless and magstripe terminals.
InJong Rhee, global head of Samsung Pay, 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.”
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