Samsung's new payment service, imaginatively named Samsung Pay (ahem), is set to arrive in the US next month. It's designed for friction-free adoption, and will work "practically anywhere", making it easier for customers and business to use.
Like Apple Pay, Samsung's service offers NFC payments, but it will also work with Magnetic Secure Transmission (MST), meaning you should be able to use it anywhere that you'd use a normal credit debit card. It essentially tricks traditional card-readers into thinking it's a piece of plastic.
It's designed to be simple to use: hold your finger on the sensor and you're done. It's also encrypted via Samsung Knox, with single-use codes for transactions, and never sharing personal information.
Samsung Pay is set to launch on September 28 in the US, and a little earlier – August 20 – in the company's native South Korea. You'll need a Galaxy S6 or newer to make use of it, and it'll be preloaded on the new Note 5 and S6 edge+ phablets.
Source: Samsung