Galaxy S6's 'special function' could be Samsung's first mobile payment system

Galaxy S6 'special feature' to be Samsung's first mobile payment system
We heard back in December that Samsung is working to implement a mobile payment system of its own for obvious reasons, namely the existence of Apple Pay. At its latest quarterly report Apple said that about two thirds of all mobile transactions are now being executed with its own payment system that got introduced together with the iPhone 6 and 6 Plus handsets last year.

Samsung apparently doesn't want to be left behind, and the Galaxy S6, as well as its S6 Edge sidekick with the curved display, will be the first phones to implement the company's own take on mobile payments. Previously it was rumored that the system will be based on the Burlington, Mass. LoopPay technology, and the latest report in the Korean media confirms that, and ties the launch with the unveiling of the Galaxy S6.

The new mobile payment system doesn't require NFC to be built into phones, but mimics a credit card swipe instead, so it could be accepted at much more merchants than Apple Pay worldwide, currently to the tune of 10 million. Insiders mention it will be available through different providers in different regions, which makes sense, if it will be indeed similar to LoopPay's tech, which you can see detailed in the video below. 

Samsung does plan on offering extra security authentication via the fingerprint scanner embedded in the home button. This might explain why with the Galaxy S6 the company is reportedly switching from the current swipe scanner to a touch-based sensor, similar to what Apple, Huawei or Meizu utilize in their handsets. Remember that "special function" that Samsung's chief of investor relations mentioned last week to be in the upcoming flagship? Well, a universal payment system does sound like something special to us, but we will see for sure what Samsung meant on March 1st, when the handset is about to be unveiled.

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source: (translated)

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