Samsung Pay set for successful launch into China
Samsung Pay is to launch in China on Wednesday, with reports suggesting that although Apple Pay made an encouraging start in China when it launched there last week, Samsung's offering could fare even better, due to likelihood that it will be picked up by a greater number of merchants. As in other countries, Samsung's service is expected to benefit due to "its magnetic secure transmission technology, which can be used with point-of-sale terminals that do not have NFC capabilities”. Furthermore, according to Samsung's own projections, it could be accepted at 30 million merchant locations worldwide, which would make it the only mobile payment service with near-universal acceptance.

Samsung Pay - shown here on a Galaxy S6 Edge Plus - is expected to debut in mainland China on Wednesday, a week after rival Apple Pay. Samsung Pay is due to hit Australia, Brazil, Singapore, Spain and the UK later in the year. Photo: AP