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Samsung to launch m-payments service in H2

Sunday 1 March 2015 | 20:15 CET | News
Samsung has confirmed plans to launch its own mobile payments service, based on its recent acquisition of LoopPay. The Samsung Pay service will launch first on the new Galaxy S6 and S6 Edge smartphones, in the US and Korea in the second half of this year. The service will later expand to markets such as China and Europe. It takes advantage of LoopPay's Magnetic Secure Transmission technology, which removes the need for NFC point-of-sale equipment and allows payments with debit or credit cards using a magnetic strip for authentication. This type of card is still more common in the US than the

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Categories: Mobile & Wireless
Countries: World
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