Samsung also announced launch dates for the Samsung Pay mobile payment system. Korea is the first to go wallet free.
It’s hard to believe that Samsung would really have thought out the mobile payment in the way they claimed. During the keynote they tried to get everyone to believe that the Samsung Pay works with any magnet card reader, not just with NFC machines.
The service only works on Samsung devices and it uses the a little coil of magnetic code that sends the same information that the card reader usually reads from the magnetic cards. The service also uses NFC if possible and it can also handle gift cards and loyalty cards.
Samsung Pay is used by swiping up from the lower edge of the screen, device asks for fingerprint, user selects the right card and just a little tap to payment machine and the transaction is done. If this sound too good to be true, you are not alone.
Samsung Pay will launch in Korea on August 20th and in the States on September 28th. The service will then start expanding to other markets like UK, Spain and China.