Korean cards will soon work in the US and China using Samsung Pay

By | 22nd January 2016


Samsung Pay may not be available everywhere in the world just yet, but Samsung has a new way of expanding. They will soon allow people with South Korean credit or debit cards to use Samsung Pay in the US and China.

Samsung is said to be connecting the foreign payments system with Samsung Card, Lotte Card, KB Card and Hana Card, and allowing Samsung Pay to use these cards in other countries. They plan on doing this as quickly as the end of this month.

Mastercard and Visa have already negotiated with global credit card companies to link payment networks. Other major credit card companies such as American Express are currently in the works, but nothing is final just yet.

There are a few stages to this plan. The first stage is Samsung Pay will launch in the US and China later this month, those countries were picked because 80% of retailers are already using MST (Magnetic Security Transmission) payment machines. After that, the same plan, but expanding to Europe and Southeast Asia. Finally, expanding to even more countries around the world by the end of the year.

Source: Etnews

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