Samsung Announces Launch Dates for Groundbreaking Mobile Payment Service: Samsung Pay

Samsung Electronics Co., Ltd., unveiled that Samsung Pay, a secure and easy-to-use mobile payment service that can be used to make purchases nearly everywhere cards are accepted, will launch in Korea on August 20 and in the U.S. on September 28. Samsung plans to roll out the service in the U.K., Spain and China, with partners to be named in each market.

Speaking at a Samsung event in New York where it unveiled its newest flagship devices – the Galaxy S6 edge+ and Galaxy Note5, JK Shin, CEO and Head of IT & Mobile Communications Division at Samsung Electronics said, “With the launches of these exciting new smartphones, we will open a new era of mobile payment. This is Samsung’s brave step forward to enhance our mobile experience. It is easy, safe, and most importantly, available virtually anywhere you can swipe a card, in most cases without new costs for merchants, from day one.”

Samsung Pay will be preloaded on select Galaxy S6 edge+ and Galaxy Note5 devices and a free software upgrade will be rolled out beginning mid-August, to enable Samsung Pay on Galaxy S6 and S6 edge devices in the U.S. and Korea. Select U.S. users of Galaxy S6, S6 edge, S6 edge+ and Note5 will be able to participate in a beta trial from August 25 ahead of the September 28 launch.

  • SIMPLE: To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay.
  • SAFE: Samsung Pay uses tokenization, Samsung KNOX, and fingerprint authentication to provide secure payments and reduce the security risks inherent to plastic cards.
  • VIRTUALLY ANYWHERE: With Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technologies, Samsung Pay works with most existing point-of-sale (POS) terminals. That means it’s the only mobile payment service that works virtually anywhere you can swipe your credit card or debit card.

“The future of mobile payments has arrived,” said InJong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “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.”