The news lines up with earlier rumors suggesting Samsung would partner with mobile payment firm LoopPay on an upcoming service. Now it looks like this partnership could finally come to fruition next month at Mobile World Congress. The South Korean company is expected to unveil both the Galaxy S6 and a curved-display Galaxy S Edge at the Barcelona trade show.
It’s unclear exactly how Samsung Pay will work, though LoopPay’s technology has proven to be pretty versatile already. The company currently offers a mobile payment phone case, which works with NFC and even supports magnetic stripe terminals. LoopPay also secured an investment from Visa last summer, though Samsung would still need to set up deals with other banks and credit card companies if it wants to compete with Apple Pay.
The Galaxy S6 is also expected to feature a new touch-based fingerprint reader, which could also be key to Samsung Pay. This is just a rumor for now, but with MWC just around the corner it shouldn’t be too long before Samsung’s plans are revealed.