Samsung Electronics has launched Samsung Pay in the US following its successful launch in South Korea a month ago.

The company said that is planning to expand the mobile payments service to other markets such as China, Spain and the UK soon.

Samsung Pay only works with the Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+ and the Galaxy Note 5 in the US.

In order to avail the service, consumers need a credit or debit card from Visa, MasterCard, or American Express card issued by Bank of America, Citi, American Express or U.S. Bank.

The payment service will allow owners of Samsung mobile devices to make purchases at contactless and magnetic stripe terminals using NFC and MST technologies.

The service uses digital tokenization, Samsung KNOX, and fingerprint authentication to provide secure payments. It is also compatible with most existing and new terminals, including most magnetic stripe, EMV and NFC terminals.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Samsung Electronics global head of Samsung Pay Injong Rhee said: "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."