14 DAY TRIAL // Along with the reveal of Galaxy Note 5 and Galaxy S6 edge+, Samsung has also announced that its mobile payment system will be officially launched on August 20.
However, Samsung Pay will only be available in South Korea later this month, but it will be launched in the United States on September 28 as well.
In addition, the South Korean company confirmed plans to roll out the Samsung Pay service in the UK, Spain and China, but no timeframe has been given for these launches.
According to Samsung, its Pay mobile payment system will be preloaded on select Galaxy Note 5 and Galaxy S6 edge+ smartphones.
Also, a free software upgrade will be rolled out beginning mid-August, to enable Samsung Pay on Galaxy S6 and Galaxy S6 edge devices in the United States and South Korea.
Customers in the United States who own the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+ and Galaxy Note 5 will be able to participate in a beta trial from August 25 and until the release of the mobile payment system on September 28.
It uses Samsung KNOX for secure payments
Samsung Pay differentiates itself from other mobile payment services because it works with most existing POS (point-of-sale) terminals thanks to the Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technologies included.
Samsung also announced partnerships with payment networks such as American Express, Discover, MasterCard and Visa, as well as major banks like Bank of America, Chase, US Bank, and others.
“With the launches of these exciting new smartphones, we will open a new era of mobile payment. This is Samsung’s brave step forward to enhance our mobile experience. It is easy, safe, and most importantly, available virtually anywhere you can swipe a card, in most cases without new costs for merchants, from day one,” said JK Shin, CEO and Head of IT & Mobile Communications Division at Samsung Electronics.