Even though Samsung made a big deal about Samsung Pay back at the Galaxy S6 launch at MWC, the company was clear that it was still a work in progress. At a time when Google continues to scramble with the topic, and while Apple is slowly growing with Apple Pay, Samsung spent way too long in pushing this technology to the market. Samsung’s Unpacked is currently live, and Samsung Pay was given the same importance as the hardware announced.
Samsung has just confirmed that Samsung Pay hits Korea on August 20, and then in the US on September 28. You could say this is a rip off of Apple Pay, but it’s actually better. It does support NFC payments just like every other service, but the recent LoopPay acquisition earlier this year allows you to mimic a credit card swipe with the service as well. In theory what this allows is for you to be able to use Samsung Pay anywhere, and not depend on what stores are supporting the service.
Obviously this sounds too good to be true on paper, but it would solve one of the major hurdles that most companies battle with today. We should learn more when the service goes live and will be reporting back.