Remember Samsung Pay? That really cool mobile payments system Samsung built into the Galaxy S6. Not ringing a bell? That’s likely because several months after the release of the phone, the service has still not gone live. However now it looks like the service is finally on its way to market.
Here’s a quick refresher on what Samsung Pay if you’ve forgotten. Essentially, Samsung Pay is yet another mobile payments system, but it doesn’t rely on NFC. Rather, Samsung Pay uses special hardware built inside the device to emulate a credit card. This is the same technology Loop Pay used (before Samsung bought them). If all goes well, Samsung Pay should be compatible with about 90% of magnetic strip card readers already on the market.
Samsung Pay was supposed to go live before the summer, but it’s missed that goal. Now rumors point toward Samsung Pay going live in September. Odds are, that means it’ll launch around the time the upcoming Galaxy Note 5 does.Via: Pocketnow