The newest Samsung smartwatch will include the Samsung Pay mobile wallet to allow users to make payments at terminals that accept swipe or contactless payments.

The Gear S3 LTE or Bluetooth models will include Magnetic Secure Transmission and Near Field Communication technologies for Samsung Pay, making it the first wearable device to include MST, Samsung Electronics America said in a Nov. 3 press release. MST essentially emulates a magstripe swipe transaction through the smartphone.

Users can initiate transactions from their wrists at 90% of the top 250 stores in America, Samsung said.

The Gear S2, an earlier version of Samsung's smartwatch
The Gear S2, an earlier version of Samsung's smartwatch IMAGE: Bloomberg News

"Consumers are increasingly recognizing the benefits of a smartwatch that operates even without their phone,” Gary Riding, senior vice president of product marketing at Samsung Electronics America, said in the release.

Samsung is in the process of expanding Samsung Pay's features and reach, often using its home turf of South Korea as a test bed.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry