SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd (005930.KS) will launch a smartphone app in South Korea that would allow for easier use of its mobile payments service for online transactions, the Electronic Times reported on Friday citing unnamed sources.
The South Korean paper said the app, to be called Samsung Pay mini, would be compatible with all Android and Apple Inc (AAPL.O) devices and could launch as early as June. The mobile payments service is currently compatible with Samsung devices but the firm has said it would consider expanding the service into other manufacturers' products.
The paper did not say whether the app would be launched in other markets. A Samsung spokeswoman declined to comment on the report.
The world's top smartphone maker hopes its mobile payments service will help it defend market share and be convenient enough to entice users to pay more for its devices. Samsung Pay currently offers online payment services in South Korea but typically takes several more steps to pay through it than at offline stores.
Reporting by Se Young Lee; Editing by Stephen Coates