Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics.
Samsung Pay lets users make payments via their phones, with the service supporting contactless payments using NFC (Near-Field Communications).
The service was first launched in South Korea in August 2015. It was developed from the intellectual property of LoopPay, a startup which was bought by Samsung in 2015.
The service is not only compatible with NFC payment systems, but also those which only support magnetic stripes.