Samsung Electronics have announced it will launch a mobile payment platform in South Korea and the United States around September. The new mobile payment system called Samsung Pay will be could possibly be the Note 5 at IFA 2015 in September.
Industry watchers said Samsung Pay stands out from other competitors as the service supports virtually all forms of payment -- near field communication (NFC), magnetic secure transmission (MST) and barcode technologies -- which reaches far more registers than that of its rivals.
Samsung also will look at expanding its sales into China, Europe, Australia and Latin America, Rhee In-jong, vice president of Samsung's mobile segment, said at an investors forum. Samsung Pay was first announced in alongside the Galaxy S6 and S6 Edge smartphones at Mobile World Congress 2015.