Samsung Pay: turn your phone into your Wallet
Samsung will roll out Samsung Pay in the U.S. on September 28, 2015. This new payment service has been built out via the acquisition of LoopPay.
Samsung plans to roll out Samsung Pay in China, the United Kingdom and Spain in the near future.
The Samsung Pay rollout was announced at an event in New York launching the Galaxy Note 5 and Galaxy Edge+, on which the new service will be preloaded (and it’s free). In fact, after the company had acquired LoopPay acquisition, Samsung Pay beta test showed good promise for the Korean electron giant in its war destined to catch up with Apple Pay and Android Pay, Google’s entry into mobile payments.
The big win is that LoopPay already works with most point-of-sale terminals, and Samsung uses the combination of magnetic transmission and Near Field Communication technologies to gain share.
Samsung Pay will work with payment networks and major credit card companies, such as Visa, Mastercard, American Express and Discover, as well as with hundreds of banks around the world.
The goal was to make smartphone payments easier and secured with Samsung’s KNOX technology. The system works with the big chains and small businesses, even with your local grocery. Brief, it works virtually anywhere. If a retailer can swipe a card, most likely he will accept Samsung Pay, this secure, supper easy and simple mobile payment.
Note that Samsung Pay doesn’t store or share your payment information, so you can pay without worry. Let’s also remind you that Samsung Pay Comes Free on the New Galaxy S6 Edge + and Note5. Thus the new service doesn’t cost you anything: it’s already available on your latest Samsung Galaxy device.
Finally, let’s remind you that mobile payments are have been heating up this year. Indeed, Apple made a push with Apple Pay. Google announced that it had purchased Softcard for its Google Wallet and at Google I/O, Android Pay was introduced.
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Samsung Galaxy S6 Edge+, Samsung Notes, Samsung Galaxy S6 Edge & S6. Photo by: samsung.com