Samsung Pay to expand globally

By @s_rituparna on
Samsung Pay
An employee demonstrates a Samsung Pay, Samsung's new mobile payment system at a shop in Seoul, South Korea, September 4, 2015. Reuters/Kim Hong Ji

Samsung Pay will expand its service globally this year, according to unofficial reports, after the company launched the mobile payment service in South Korea, followed by the US last year.

According to a report by Business Korea, the South Korean tech giant will reveal Samsung Pay’s international service plans, alongside the Galaxy S7 and S7 Edge, at a launch event on Feb. 21, a day before the Mobile World Congress (MWC) 2016 kicks off.

The world’s largest mobile trade show is scheduled to take place from Feb. 22 to Feb. 25 in Barcelona, Spain.

In January, Samsung, through an official Twitter post, revealed that its mobile payment system will soon hit the markets in Australia, Brazil and Singapore. The company also plans to expand its service into China, Spain and the UK, reported Reuters.

This was confirmed at the Samsung European Forum 2016 held in Monaco last week, when Nathalie Oestmann, head of Samsung Pay Europe, said the mobile payment service will soon arrive in the UK and Spain. The company is expected to share more details, including the exact date of the releases, at the Samsung Galaxy S7 launch event.

Related: Samsung Galaxy S7 specs: 9 things to expect from Samsung’s upcoming flagship smartphone

Samsung Pay now works with premium devices including the Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy S6 Active and Galaxy Note 5. Samsung's upcoming flagships, the Galaxy S7 and S7 Edge would be added to the current list of compatible devices.

Samsung Pay supports both contactless NFC (Near-Field Communication) payments and magnetic strips. This gives it an edge over Apple Pay and Android Pay, which only work with NFC terminals.

The easy-to-use mobile payment service works almost anywhere with a simple tap or swipe of a card. In the US, carriers like AT&T, T-Mobile, Sprint, US Cellular and Verizon support Samsung Pay.