Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that lets users make payments using compatible phones and other Samsung-produced devices. The service supports contactless payments using near-field communications, but also supports magnetic stripe only payment terminals by incorporating magnetic secure transmission. In countries like India it also supports bill payments.
The service was launched in South Korea on August 20, 2015 and in the United States on September 28 of the same year. In 2016 at the International Consumer Electronics Show (CES 2016), the telecommunications company announced that Samsung Pay would be coming soon to a variety of banks in Australia, Brazil, Spain and Singapore.