Samsung's new payment system coming with Galaxy S6

Various inside sources started to reveal new things about the upcoming Samsung Galaxy S6 flagship, for example its colors. On the other hand, the rumor about Samsung working on a mobile payment system is not new since it came out back in December 2014. Now, a report published by South Korean media confirms the launch of such a service.

Apple Pay may soon face competition from Samsung's similar solution that is rumored to use LoopPay technology. The Korean media report mentioned earlier places this event next to the upcoming Samsung Unpacked event. Since Apple also unveiled Apple Pay together with the new iPhone 6 handsets, showing off a new Galaxy S handset and a mobile payment system would be a logical move for Samsung.

According to PhoneArena, the greatest advantage of this system is that no NFC is needed since it replicates a card swipe. You can check LoopPay in action by viewing the video below. Nothing has been officially confirmed regarding this new mobile payment system by Samsung, so we should wait for the Unpacked event and see what's what.