Samsung begins testing Samsung Pay in Korea

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Samsung begins testing Samsung Pay in Korea

Samsung's Apple Pay competitor is almost ready for primetime -- but first, it's going through a bit of testing. The company announced that it's begun a Samsung Pay trial for select owners of the Galaxy S6 and Galaxy S6 Plus in Korea. To refresh, Samsung Pay is the company's spin on mobile payments, and while it packs in NFC, it also takes advantage of Samsung's acquisition of LoopPay for "magnetic secure transmission." That allows you to hold your Samsung phone next to any magnetic card stripe reader to make a payment. Apple Pay and other mobile payments offerings rely on NFC, which isn't as widely supported at most retailers. There's no word when Samsung Pay will officially launch (Samsung says "it won't be long"), but rumors point it landing alongside the Galaxy Note 5 in August.

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