Samsung Pay will be launched this week

Today Samsung has officially announced the launch date of its own payment services Samsung Pay, which allows you to pay for purchases using a smartphone virtually wherever it can be done by card. Service will work in South Korea this week, on 20 August, while the US launch is scheduled for September 28. In addition, the company also plans to launch Samsung Pay in the UK, Spain, China and other countries. Paying service will be pre-installed on a new smartphone Galaxy S6 + Edge, which was presented last week. The user will be sufficient to conduct a telephone terminal along with a magnetic card reader.

"With the release of this smartphone, we are opening a new era of mobile payments. Samsung is a bold step forward in the development of mobile technology. Samsung Pay - a simple and reliable service and, most importantly, available almost anywhere you can pay off the card. And in most cases does not involve additional costs, "- he said during the presentation of Galaxy S6 Edge + John John Rea, executive vice president of Samsung Electronics and head of Samsung Pay.

Key features of Samsung Pay:

for payment by Samsung Pay, you can just hold the phone along the terminal with a magnetic card reader; Samsung Pay uses tokenization Samsung KNOX and fingerprint identification, which ensure the security of payments and avoid the risks associated with the use of plastic cards;
Technology Magnetic Secure Transmission (MST) and Near Field Communication (NFC) makes Samsung Pay is compatible with most existing payment terminals (POS). In fact, Samsung Pay - the only mobile payment application that works virtually anywhere can be used by credit or debit card.

"We are promoting new and unique technologies and capabilities to provide our customers with more flexibility and freedom to choose the method of payment. We welcome the cooperation with Samsung and offer cardholders a new opportunity to pay by American Express card through the device Samsung", - said Tony Prentice, vice president of mobile payments American Express.

Samsung also continues to increase the number of partners to provide greater access and choice to clients using Samsung Pay. For example, in the US, the company is planning to cooperate with payment systems American Express, Discover, MasterCard and Visa, as well as major local banks.

New technologies are a strong influence on how the nearly 18 million active mobile customers pay their daily purchases, and we are focused on the implementation of innovative solutions that can make this process even easier. Samsung Pay - a wonderful example of this. The service allows customers to manage their finances when, where and how they want it - said Michelle Moore, head of digital banking Bank of America. "As consumers increasingly rely on their mobile devices in their daily lives, MasterCard is pleased to partner with Samsung and offer Samsung Pay holders of our cards around the world. With advanced technology tokenization by service digital support MasterCard, we provide a simple and reliable payment service, which includes all the advantages and guarantees transactional MasterCard ", - said Cheryl Guerin, CEO of MasterCard.