Samsung Pay and Galaxy Note 5 to launch in September this year

image LoopPay

Samsung Electronics Executive Vice President, Rhee In Jong, revealed during an investor call on Wednesday that Samsung will be launching Samsung Pay and the Galaxy Note 5 in September this year.

While the payment service will be initially launched in Korea and the United States, Samsung plans on expanding it to Europe, China, Australia and South America as per Jong. The executive vice president also revealed that the service will be made available on more devices than just the Galaxy S6 and Galaxy S6 edge.

He said that the company expects at least 15-20 percent of Samsung smartphone owners to use the company’s upcoming payment service.

The Galaxy S6 and S6 edge, however, are the only phones in the market currently to feature support for Samsung Pay. The Korean company had acquired a startup called LoopPay and integrated its technology inside its flagship handset for 2015. Samsung Pay is better than Apple’s NFC based payment service because the former even works with Points of Sale terminal that lack NFC functionality.

Samsung has traditionally launched its Galaxy Note device in late August or early September, so a September launch timeframe for the Galaxy Note 5 should not really come as a surprise to anyone. Additionally, Samsung itself had reaffirmed in late April that it will be launching Samsung Pay in Korea and the United States in the second half of this year, so a September launch timeframe for the service is inline with its previous estimate.

[Via Bloomberg]

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