Korean tech giant Samsung Electronics plans to expand its Samsung Pay mobile payments service to markets such as China and Europe, after an initial launch in South Korea and the US later this year.
Rhee Injong, a Samsung executive vice president (EVP), told investors at a company event in Seoul that the firm is looking at a “September time frame” for the initial launch of the mobile payments service in South Korea and the US, coinciding with the launch of the firm’s next flagship smartphone model.
He added that Samsung will also launch the service in areas such as South America and Australia, although without offering a specific timeline.
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Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.