The service will allow users with Samsung’s Galaxy S6, Note 5 and Galaxy S7 range of smartphones, and a compatible American Express or Citibank card, to pay by tapping their phone, according to a report by The Australian.
“We’re launching with Citibank and American Express and that’s easy because they’re already our global partners and it was a faster way to market. We don’t want to compete with banks, we definitely want all partners, and all cards, in. Hopefully it’s a matter of time”, according to Samsung.
Samsung Pay is already available in the US, South Korea, China and Spain, and the company said it will launch in Singapore in June 2016.
Samsung Pay uses Near Field Communication (NFC) as well as MST (Magnetic Secure Transmission), meaning the service works with contactless terminals but also with magnetic-stripe machines found on cash registers.
If users happen to be without internet access, Samsung Pay can also be used in offline mode. It uses technology developed by LoopPay, a US start-up Samsung acquired in March last year.
In addition, the company said outside of payments Samsung Pay could potentially work with public transport ticketing and mobile drivers’ licences, and it’s understood Samsung is in discussion with state governments about potential uses.
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