Samsung Pay to debut in Russia, Thailand, Malaysia this year

[THE INVESTOR] Samsung Electronics said on Oct. 26 that it will roll out Samsung Pay, its mobile payment service, in Russia, Thailand and Malaysia later this year.

The South Korean tech giant said it will form a partnership with Mastercard to offer a simplified online payment and express checkout solution through its digital payment service Masterpass, starting early next year.

Samsung announced the plan at Money 20/20, a major fintech conference, held in Las Vegas.

Samsung also plans to introduce new features in the US next month, including support for in-app payments and new nearby discounts and savings.

The accumulated transaction volume of Samsung Pay surpassed 2 trillion won (US$1.76 billion) in August, one year after its launch in South Korea, the firm said.

(theinvestor@heraldcorp.com)