What is Samsung Pay?

samsung pay 2

Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics.

Samsung Pay lets users make payments via their phones, with the service supporting contactless payments using NFC (Near-Field Communications).

The service was first launched in South Korea in August 2015. It was developed from the intellectual property of LoopPay, a startup which was bought by Samsung in 2015.

The service is not only compatible with NFC payment systems, but also those which only support magnetic stripes.

 

How does Samsung Pay work?

Share Price:

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Name of Technology:

Samsung Pay

Year Introduced:

2015

Invented by :

Samsung Electronics

Open Source or Proprietary:

Proprietary

Main technology category:

Mobile Payments

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