ChinaVirtuoso

South Korean electronics maker Samsung announced that the company will soon launch its mobile payment service Samsung Pay and will expand this service into Chinese and European markets.

Injong Rhee, Samsung's executive vice president, told investors during a company activity in Seoul that they plan to launch mobile payment services in South Korea and America in September 2015, which will be the same time of launching its next-generation flagship smartphone.

Rhee also revealed that the new service will later be available in South America and Australia. However, he did not disclose the detailed timeline.

As a major competitor of Samsung, Apple's payment service Apple Pay is already preparing for entering the Chinese market. In May 2015, Apple CEO Tim Cook visited China and told local media that he really hoped to introduce Apple Pay into the Chinese market. Apple is currently discussing with Alibaba and Chinese banks about Apple Pay's future in China.

Samsung did not reveal yet with which local Chinese companies it may partner.

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