Verizon has no love for Samsung Pay

If you're a Verizon user with a Samsung smartphone, I have some bad news for you.

As you probably heard before, Samsung is about to release its version of the contactless payment system, Samsung Pay, in the US on September 28.

Yay.

However, if you are a Verizon subscriber, you won't be able to take the new feature for a spin, because the carrier won't support it.

The news was confirmed by the official Samsung Support USA Twitter account.

"Verizon isn't part of Samsung Pay & we apologize. Go here: http://tinyurl.com/py8rnn6 for information on Samsung Pay and who we are partnered with,“ the official Tweet reads.

https://twitter.com/SamsungSupport/status/633714934141034497

https://twitter.com/SamsungSupport/status/633715042937118721

The link Samsung Support USA is pointing to is the official Samsung Pay website, where a complete list of the service's supporters can be found.

Verizon isn't on that list.

Verizon’s competition such as AT&T, Sprint, and T-Mobile will all support the service, but smaller carriers, like US Cellular are also on the list.

It is unclear as to why Verizon and Samsung aren't partnered on this.

Samsung Pay is a mobile payments service developed from the intellectual property of LoopPay, a crowdfunded startup company that Samsung acquired in February 2015. ž

Samsung Pay incorporates technology by LoopPay known as "Magnetic Secure Transmission" (MST); it transmits card data to the pay terminal's swipe slot using an electromagnetic field, causing the terminal to register it as if it were a normally swiped card.

LoopPay's developers noted that its system would not share the limitations of other mobile payment platforms, and would work with "nearly 90 per cent" of all point-of-sale units in the United States.