Samsung announced that their mobile wallet service is now available in China in partnership with UnionPay.

The Samsung Pay functions as a cardless payment system equipped with a near field communication technology or NFC that enables phones to work with credit card machines. Customers can now pay their purchased items by only using one device.

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On Tuesday, the company described their service as "simple, safe and easy to use" and works "virtually anywhere you can swipe or tap your card in China."

Apparently, the South Korean electronic company service in China currently works with smartphones like Galaxy Note5, Galaxy S7/S7 Edge and Galaxy S6 Edge+ but notes that they will be working on their mid-range units compatibility in the future.

Samsung Pay supports selected debit and credit cards of China's nine major banks like China Construction Bank, China CITIC Bank, China Everbright Bank, China Guangfa Bank, China Merchants Bank, China Minsheng Banking, Hua Xia Bank,Ping An Bank, and Industrial and Commercial Bank of China.

Furthermore, it will soon be partnering with Bank of Beijing, Bank of China, China Bohai Bank, Bank of Communications, Shanghai Pudong Development Bank and Industrial Bank, reported by VentureBeat.

According to China Internet Network Information Center, the country currently has 358 million people that are using their smartphones as a payment method.

Before Samsung officially launched their mobile wallet service in China, local companies such as WeChat and Alipay have already taken their lead in the market. These apps have covered payment for taxi services, online shopping and a feature that allows users to give "red pockets" during Chinese New Year, reported by Engadget.

Considering Samsung's brave entry to China, IDC research firm's Bryan Ma believes that Samsung might encounter challenges in the future due to the strong competition against Alipay and WeChat.

TagsSamsung, UnionPay, mobile wallet service, Samsung Pay, WeChat, Alipay, China Banks, NFC payment