Samsung Pay off to a great start in South Korea, coming to the U.S. September 28th

Samsung Pay off to a great start in South Korea, coming to the U.S. September 28th
Mobile payment service Samsung Pay has been available in South Korea for a full month. Through Sunday, September 20th, Samsung Pay has helped ring up over $30 million in transactions. The service has handled 1.5 million transactions with 900,000 of them done using the Samsung Galaxy Note5. Unlike competing mobile payment services, Samsung Pay doesn't require that the retailer's POS system support NFC.

Thanks to its acquisition of LoopPay, Samsung's system will work with MST (Magnetic Secure Transactions) as well as NFC. 90% of retailers already use MST to handle physical credit card transactions. That means that many more locations are ready to use Samsung Pay right now, putting it well ahead of Apple Pay and Android Pay in the number of locations accepting the service.

Samsung Pay is coming to the U.S. on September 28th. Currently, it is available for the Samsung Galaxy S6, Samsung Galaxy S6 edge, Samsung Galaxy S6 edge+ and Samsung Galaxy Note5. It also will be available on the Samsung Gear 2 watch when the smartwatch launches next month.

source: Samsung via AndroidAuthority


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