The news on the street is that Samsung's new payment service, Samsung Pay, is going to be releasing very soon, that can only point to the demise of the Samsung Wallet service. Customers of the Samsung Wallet service are currently receiving emails that the service will be discontinued on June 30th.
Anything that you have purchased or used the service for before that date will be available, but it will be disabled for new purchases, allowing it to be phased out. Samsung has not confirmed the reason for the service closure, but it can only be that Samsung Pay is about to replace it.
Below is the email that Samsung is sending out to users: