Samsung Pay with Magnetic Secure Transmission launches in the US next month

Samsung Wallet already ceased operations last June 30 and will soon be replaced by  Samsung Pay this September in the United States. A trial service began in South Korea last month and we also learned that it will come to Europe with extended partnership with MasterCard.

This coming September, the mobile payment that is a direct rival of Apple Pay, will launch in the US company as another special feature of a few Samsung devices that include the recently outed Galaxy S6 edge+ and Galaxy Note 5. This service first came to the Galaxy S6 and Galaxy S6 edge earlier in March but very soon in the country, it will be ready for more Samsung phones. Well, at least, just those four premium phones unveiled this year.

Just in case you’ve been living under a rock, Samsung Pay is a mobile payment method that lets users load their debit and credits cards to their smartphones. It’s a new cashless payment system that works with current point of sale terminals. Samsung Pay also supports NFC with any compatible register. You can use the smartphone as a “pretend” physical credit card made possible by a Magnetic Secure Transmission (MST). It’s invisible but it creates a similar electronic chatter when you slide a real magnetic swipe card through a card reader slot.

Samsung Pay is secure like most NFC payments so you don’t have to worry about your account being compromised. You can expect special benefits like a secure area on the ARM processor, encrypted payment information, and rooting and hacking prevention through the Samsung KNOX system.

Some banks and retailers in the country will support Samsung Pay but we don’t have enough information yet. We’re certain though that this one will be ready with majority of credit and debit card terminals in stores today.

Samsung Pay will be available in the US on September 28. After a few weeks of trials, the service will be ready in South Korea next week, August 20. Beta test in the US might start this August as well so that’s something to look forward to.

VIA: SlashGear