Samsung disclosed its plans to launch Samsung Pay in Australia sometime in 2016. The South Korean company’s this product will become operational in Korea on 20th August 2015. The company also has plans to make Samsung Pay operation in the US on September 28th this year. The delay in launching the product in Australia is attributed to hurdles encountered with customizing the product for local financial institutions.
What is Samsung Pay?
As the name suggests, this is a technology linked with a smartphone for payments. Unlike credit cards that need to be swiped for making payments, devices with Samsung Pay will only have to be wave it near the checking out points of the stores.
The product uses “Magnetic Secure Transmission” from LoopPay technology.
Samsung also introduced Galaxy 6 Edge and Galaxy 6 at the time of announcing the plan for introducing Samsung Pay in Australia. These phones will be compatible with the feature. On the following day, the South Korean smartphone company also introduced Galaxy S6 Edge+ and Galaxy Note 5.
Australia would be the last frontier for smartphone manufacturers to conquer with their mobile payment feature. It remains to be seen if Australians get better mobile payment facility before Samsung Pay arrives. It is, therefore, hard to predict the fate of Samsung Pay in Australia, i.e., if and when it comes to this country.