Apple Pay to face competition: Samsung Pay to launch this September

Samsung may soon challenge Apple and Google, with its own payment service this year. Several reports state that Samsung is planning to introduce its own independent mobile payment system, the Samsung Pay, this September.The upcoming Samsung Pay will reportedly use the Magnetic Secure Transmission (MST) technology.

WhowiredKorea also reported that the compatibility option of Samsung Pay with the smartwatch will only be disclosed during the launch. In its initial stages, the Samsung Pay service will only be accessible in South Korea and US. The launch date for the Indian market hasn't been revealed yet.