[THE INVESTOR] Samsung Electronics announced the launch of its mobile payment service in Australia and Singapore on June 16.

The tech giant has partnered with Citibank, which has over 200 million customers, to launch Samsung Pay as part of its efforts to ultimately extend the service across the Asia-Pacific region, the company said.

“We’re seeing significant global growth for Samsung Pay, and view our expanded partnership with Citibank as a key to that continued momentum,” said In-jong Rhee, CTO of Software and Services, Mobile Communications Business at Samsung Electronics.

Launched last year in Korea, Samsung Pay is currently available in the U.S., China and Spain in collaboration with global card companies and banks. The electronics giant plans to extend the mobile payment service in Russia and the U.K. by the end of the year.


By Park Yuna (yunapark@heraldcorp.com)