Samsung announces 'Samsung Pay' collaboration with MasterCard

Samsung Pay
(Image credit: David Ramos/Getty Images)

Take out "Apple" in "Apple Pay," add in "Samsung," and you have the new mobile-payment system announced by the Korean firm on Sunday, The Guardian reports.

Samsung is teaming up with MasterCard to offer Samsung users a way to pay with their mobile phone for in-store transactions. Only Samsung Galaxy S6 smartphones will support the service for now.

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Sarah Eberspacher

Sarah Eberspacher is an associate editor at TheWeek.com. She has previously worked as a sports reporter at The Livingston County Daily Press & Argus and The Arizona Republic. She graduated from Northwestern University's Medill School of Journalism.