Samsung Electronics Co. Ltd. said on Monday that it’s launched its mobile payments service Samsung Pay in the U.S. Samsung Pay operates using the same near-field communication technology that other payment systems use, such as Apple Pay, from Apple Inc. and Google Inc.’s Android Pay. Samsung’s system also uses magnetic stripe technology, which means it can be used at a wider variety of terminals. The service, which is secured by tokenization and fingerprint authentication, works on the Galaxy S6, S6 edge and S6 edge+, as well as the Galaxy Note5 through AT&T Inc. , T-Mobile U.S. Inc. , Sprint Corp. and U.S. Cellular Corp. networks. Shares of Samsung have dropped more than 16% in the year to date. The S&P is down nearly 7%.
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