Samsung starts testing mobile payment service Samsung Pay

Samsung has started testing its mobile payments service Samsung Pay in South Korea for users of its Galaxy S6 and S6 Edge devices.

According to the Techcrunch.com, the service uses NFC and technology by LoopPay the company which Samsung acquired earlier this year

The Samsung Pay will be launched in Korea and the U.S. first before expanding worldwide.

The company is inviting select S6 and S6 Edge owners in Korea to participate in the first public trial of Samsung Pay before a wider rollout starts in the coming weeks

Samsung Pay will allow the Samsung's phones to communicate with magnetic secure transmission (MST) technologies in existing point of sale devices making Samsung Pay instantly compatible with most payment terminals at retailers.

Samsung users will be able to pay by putting their device near the payment terminal in store and either authenticates payment via their fingerprint or by inputting a code. The Samsung Pay app allows the users to store a range of credit cards for use but actual data is neither stored on device nor sent during a transaction.

Samsung said it uses a variety of security technologies and a high level encryption system to keep data safe.