Samsung Pay can now withdraw cash from ATMs in South Korea


At its developer conference in San Francisco today, Samsung reiterated that its mobile payment service for Galaxy devices will expand to several more countries by the end of the year. In South Korea, Samsung announced that Pay can now be used to withdraw cash from an ATM.

For now, the feature will only work with customers of the Woori Bank in South Korea. Samsung has yet to announce the useful feature for other banks or countries. In getting rid of the debit card, Pay gets closer to a true mobile payment replacement that will allow users to stop carrying around plastic cards.

Samsung Pay is different from Google and Apple’s services in that it uses Magnetic Secure Transmission technology to replicate a physical credit card. As a result, it is compatible with most current credit readers. In comparison, Android and Apple Pay require new compatible terminals to be installed.

At the event, Samsung also reiterated that Pay will launch in Australia, Brazil, Canada Singapore, Spain, and the UK in 2016. Just last month, the service launched in China with numerous banks as partners. Samsung announced at CES that the Gear S2 would be updated to support phone-less mobile payments sometime during the year.

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Avatar for Abner Li Abner Li

Editor-in-chief. Interested in the minutiae of Google and Alphabet. Tips/talk: