Samsung to Roll Out New Smartwatch with Mobile Payment Feature

BANGALORE: Korean tech giant, Samsung is planning to roll out a smartwatch this year that would support function of mobile payments, reports Business Insider.

The next smartwatch was rumored to be launched at MWC 2015. However, the company is still working on the product to embark upon the ‘perfect smartwatch’. The 1.18 circular display will operate on near-field communication (NFC) technology to run the mobile payment feature. Similar technology is adopted by Apple to offer Apple Pay to its smartwatch users.

Samsung Pay, the mobile payment feature, with select partners will be made available from July onwards. However, Samsung hasn’t commented on the matter nor has disclosed any details.

As South Korean company would retract it Samsung Wallet on June 30 to begin Samsung Pay, the tickets and reservations made through Wallet will be available after discontinuation.

The move of buying U.S. mobile payment startup earlier this year was aimed at launching Samsung Pay. The company executives suggest the use of this mobile payment feature will be far more convenient than paying using cards.

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