Samsung Announces Samsung Pay a Mobile Payment Service

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Image:Apple Pay Vegau.com
Image:Apple Pay Vegau.com

Samsung has launched Samsung Pay, a mobile payment service set to work on its Galaxy S6 and Galaxy S6 edge and will initially be available in the United States and Korea this coming summer and expand to other regions, including Europe and China.

Samsung Pay will take on Apple Pay and Google’s planned mobile payment service.

According to the firm, Samsung Pay leverages both Near Field Communication (NFC) and a new proprietary technology called Magnetic Secure Transmission (MST) to make mobile payments more accessible and is targeting 30 million merchant locations worldwide. Samsung Pay users can pay both NFC or traditional magstripe terminals.

Samsung Pay app authenticates with the fingerprint sensor and will use Samsung KNOXTM and ARM TrustZone to protect transaction information from fraudsters and data attacks. Samsung’s Find My Mobile feature enables users to locate, lock and even wipe their devices remotely incase a device is stolen.

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Sam Wakoba
Based in Nairobi, Kenya, Sam is a pan-African technology journalist, author, entrepreneur, technology business mentor, judge, educationalist, and a sought-after speaker and panelist across Africa’s innovation ecosystem. He is the convenor of the popular monthly #TechNight evening event and the #StartupEast Awards and Conference, platforms that bring together startup founders, developers, entrepreneurs, investors, content creators, and tech professionals from across the continent. For more than 16 years, Sam has reported on and analysed Africa’s technology landscape, covering some of the continent’s most impactful, and at times controversial policies, programs, investors, co-founders, startups, and corporations. His work is known for its independence, depth, and fairness, with a singular goal of helping build and strengthen Africa’s nascent technology ecosystem. Beyond journalism, Sam is a business analyst and consultant, working with brands, universities, corporates, SMEs, and startups across East Africa, as well as international companies entering the East African market or scaling across Africa. In his free time, he volunteers as a consulting editor and fintech analyst at Business Tech Kenya, a business, technology, and data firm that publishes reports, reviews, and insights on business and technology trends in Kenya. Follow him on X: @SamWakoba