Park Jin-Young, Managing Director of Samsung Electronics, has reconfirmed that Samsung will launch its own mobile based payment service in the second half of 2015.
The Managing Director of Samsung Electronics revealed this information right after the company’s Q1 earnings call yesterday. He said that Samsung Pay will be first launched in the United States and South Korea in the second half of 2015, with its launch in other countries still unclear.
“The consecutive release schedule to the rest of the other countries following Korea and the US in the second half of the year is still under discussion. The compatibility option with the smart watch will only be disclosed during the launch,” he added.
Samsung had announced Samsung Pay — its own mobile payment service which is based on the technology from LoopPay — when it announced the Galaxy S6 and Galaxy S6 edge at MWC earlier this year. It had then mentioned that Samsung Pay will be coming to the United States sometime later this year.
Samsung Pay is capable of using both NFC or MST — widely used by traditional credit card readers — to make payments over phone. This feature gives it an edge over Apple Pay that relies solely on NFC for mobile payment and requires a compatible PoS at retail stores.
Samsung Pay is currently only supported by the Galaxy S6 and Galaxy S6 edge.
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