This service is similar to that of Apple Pay and Google’s Android Pay. Samsung’s has plans to launch the pay service in China, Spain and the UK. Meanwhile, Apple Pay service is limited to the US and UK and the Android Pay in US currently.
Samsung noted that Samsung Pay is simple, safe and accessible almost anywhere. The company assures that Samsung Pay keeps payment information separate and doesn’t store or share it.
According to the company website, the card user needs to just swipe up to launch the app, secure with their fingerprints and can make payment.
“Samsung Pay works with almost any card terminal from day one and Galaxy owners can shop with a wallet they never knew was always in their hands,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay.
To participate initially, Samsung said consumers need to have a participating MasterCard, Visa or American Express card issued by Bank of America, Citi, American Express or U.S. Bank.
Moreover, Samsung Pay offers merchant credit cards through its relationship with Synchrony Financial and additionally, works with acquirers including First Data, Global Payments and TSYS.
Over time, Samsung Pay will continue to expand its partnership ecosystem to provide greater flexibility, access, and choice for customers.
The company said the payment service will work on Galaxy S6, S6 edge, Note5 and S6 edge+ devices operating on the AT&T, T-Mobile, Sprint and U.S. Cellular networks in the United States.