Samsung Pay announces dates for South Korean and US releases

Speaking at a Samsung event in New York City, JK Shin, CEO and head of IT and Mobile Communications Division, revealed that Samsung Pay will launch in Korea on August 20th and in the United States on September 28th.

The technology firm also revealed that it is planning on releasing the payment solution in the U.K., Spain and China in the coming months.

As well as revealing the launch dates of Samsung Pay, attendees got to see new Samsung products, including the Galaxy S6 edge+ and Galaxy Note5. Shin noted that the smartphones were opening up a ‘‘new era of mobile payments.’’

‘‘This is Samsung’s brave step forward to enhance our mobile experience. It is easy, safe, and most importantly, available virtually anywhere you can swipe a card, in most cases without new costs for merchants, from day one,’’ explained Shin.

Both smartphones will be integrated with Samsung Pay, and in mid-August a software update will be rolled out, integrating Samsung Pay into Galaxy S6 and S6 edge devices in the U.S. and Korea.

The Korean firm has established a number of strategic partnerships with international payment companies, enabling Samsung Pay to be used by a number of financial institutions including American Express, Discover, MasterCard and Visa, major banks including Bank of America, Chase, U.S. Bank and key financial partners including First Data, Synchrony Financial and TSYS.

A number of banking executives and payment solution firms have celebrated the international release of Samsung Pay.

‘‘We leverage our unique technology and capabilities to provide our customers with seamless, differentiated experiences, giving them more flexibility and choice for how to pay,’’ commented Tony Prentice, vice president of mobile payments at American Express.

‘‘As part of that strategy, we are excited to work with Samsung to offer Card Members a new, innovative way to pay in-store with an American Express Card on their Samsung devices.’’

Michelle Moore, head of digital banking at Bank of America has outlined the positive effects on both banks and consumers regarding the release of the payment solution.

‘‘Emerging technologies are impacting the way our nearly 18 million active mobile customers pay for everyday items, and we’re focused on delivering new solutions to help simplify their financial lives.’’

‘‘Samsung Pay is a great example of this commitment, allowing customers to do more with their mobile devices and manage their finances when, where and how they want.’’

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