Samsung Pay Vs Apple Pay

According to IB Times, many news sources have reported the purported payment system, which Samsung may dub as "Samsung Pay," in detail. BGR reports that the payment system is will possibly work with up to 90 percent of the existing NFC and magnetic strip payment terminals. It further speculates that Samsung may have an arrangement with VISA, which will issue cards that are automatically compatible with Samsung Pay. Sam Mobile says that with a view to protect the payment system from viruses, spam and spyware, the company may also work with McAfee.

Reports regarding the Samsung Pay come in the wake of widespread rumors that Samsung is also planning renew the fingerprint sensor on Galaxy S6 - changing it from a swipe-based sensor to a touch-based, something akin to the Touch ID on the iPhone 6 as well as other latest smartphones from Apple.

While Samsung is expected to introduce Galaxy S6 at the upcoming World Mobile Congress in Barcelona in March, it is expected that Samsung Pay will be available sometime in 2015.