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Samsung payment service set for MWC launch alongside Galaxy S6

Samsung might be launching a new payment service alongside the Galaxy S6 and Galaxy Edge S at Mobile World Congress on 1 March, according to recent reports.

Rumors of a Samsung payment service started circling late last year, after the early adoption of Apple Pay from banks and retailers. Samsung reportedly wants more in-house services to bring users into the ecosystem, similar to Google and Apple.

The South Korean company will be working with Visa and LoopPay to make the service work, utilising a fingerprint sensor to verify payment and an NFC (near-field communication) chip to connect with the payments scanner.

LoopPay has worked on cases to allow any smartphone to send mobile payments, but Samsung will integrate the NFC chip inside of the device to make it work automatically.

It is not the first time Samsung has integrated a fingerprint sensor onto a smartphone, the Galaxy S5 featured the same technology, but it failed to win over customers.

There might be a reason for the poor performance on the Galaxy S5, according to Motorola's ex-chief Dennis Woodside the best fingerprint firm was bought by Apple in 2013, forcing Samsung and other smartphone makers to look for alternatives.

The Galaxy S6 might be the most important smartphone launch in Samsung's history, as it looks to make amends for the poor performance last year, coming second place to Apple in Q1 2015 sales.

It is already facing some pressure from Qualcomm, following thermal issues with the Snapdragon 810. This might force Samsung to utilise its own Exynos processor, which might lead to supply issues.

Samsung has a lot to prove at Mobile World Congress, the big question is can it beat Apple on design, functionality and performance in 2015.

David has been a technology journalist for over six years, covering a wide range of sectors. He currently researches apps, app sectors and app markets for Business of Apps, and has written for ITProPortal, RTInsights, ReadWrite, and Digital Trends.