6 Things to Know About Samsung Pay

Advertisement

Samsung (SSNLF) is preparing to bring its mobile payment service, called Samsung Pay, to the United States.

samsung-paySamsung Pay has been available in South Korea since Aug. 20 and has been well received in the country. The service is the company’s attempt to enter the mobile payment market, which will put it up against Apple (AAPL) Pay and Google (GOOG,GOOGL) Wallet, reports Reuters.

Here are a few things to know about Samsung Pay, as collected from Reuters.

  • It works with magnetic stripe card readers.
  • The company plans to launch low- and mid-tier phones compatible with the service.
  • The new Gear S2 smartwatch will work with the mobile payment option when it launches in October.
  • Samsung Pay is expected to reach China and Europe.
  • It will be launched in the United States on Sept. 28.
  • Samsung is planning beta tests for the service in the U.K and Spain.

To learn more about Samsung Pay, click here.

More From InvestorPlace:
Is the Under Armour Stock Split a Raw Deal for UA Owners?
Grab These 1% Stocks while They Are Cheap
5 Boom or Bust Energy Stocks to Buy


Article printed from InvestorPlace Media, https://investorplace.com/2015/09/samsung-pay/.

©2024 InvestorPlace Media, LLC