Samsung Electronics Co. said Wednesday it will launch its mobile payment service, Samsung Pay, in Russia, Thailand and Malaysia later this year, bringing the service to a total of 10 countries.

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 ($1.76 billion) in August, one year after its launch in South Korea, the firm said.

The fingerprint-identification mobile payment service is available on select Galaxy devices and wearables. (Yonhap)