Earlier expected to go live in July, Samsung’s mobile payment service has been delayed until September, revealed the company’s executive vice president Rhee In Jong on Wednesday. He was speaking at an investors forum in Seoul.
With Apple Pay already gaining traction and Android Pay set to go live in the next few weeks, Samsung will have a hard time gaining ground. Known as Samsung Pay, the service will first be available in the United States and South Korea. The company plans to expand it to other markets, including Europe, China, Australia and South America, later this year.
Reports indicate that Samsung will launch the payments service along with its next-generation Galaxy Note smartphone.
Unlike Apple Pay and Android Pay, which only work with NFC-enabled merchant terminals, Samsung Pay can be used with both NFC and traditional magstripe terminals, thus giving it more coverage than the rival services.