Galaxy S6's 'special function' could be Samsung's first mobile payment system

Galaxy S6's 'special function' could be Samsung's first mobile payment system


We heard back in December that Samsung is working to implement a mobile payment system of its own for obvious reasons, namely the existence of Apple Pay. At its latest quarterly report Apple said that about two thirds of all mobile transactions are now being executed with its own payment system that got introduced together with the iPhone 6 & 6 Plus handsets last year.

The new mobile payment system doesn't require NFC to be built into phones, but mimics a credit card swipe instead, so it could be accepted at much more merchants than Apple Pay worldwide, currently to the tune of 10 million. Insiders mention it will be available through different providers in different regions, which makes sense, if it will be indeed similar to LoopPay's tech, which you can see detailed in the video below. 
Source