Samsung Pay expands to mobile banking in South Korea

Samsung plans to make Samsung Pay more versatile in South Korea with a feature that will let users initiate funds transfers at two banks, according to local reports.

Customers from Shinhan and Woori banks soon will have the ability to to withdraw or send funds from those accounts if they have Samsung Pay installed on new smartphones. 

Samsung said the new system uses the iris scanner on smartphones to authenticate ATM withdrawals at the two banks. Funds also can be sent without the need for a one-time passcode. 

Topics: Mobile Banking, Mobile/Digital Wallet, Money Transfer / P2P

Companies: Samsung

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