Samsung Pay Coming to U.S. in Late September (AAPL)

Apple's (Nasdaq: AAPL) mobile payment platform, Apple Pay, will see another competitor enter the market next month.

At its Unpacked event today, Samsung said that Samsung Pay will launch in the U.S on September 28th. The platform will initially be available to Galaxy S6 Edge+ and Note 5 owners, though specifics on the roll out of the platform weren't disclosed.

Unlike Apple Pay, Samsung Pay will used "Magnetic Secure Transmission," or MST, technology. The Verge noted that MST mimics the same signal that your credit card gives to a credit card reader, meaning users will be able to use their mobile device in more places than other mobile payment platforms.

MST is already built into the Galaxy S6, S6 Edge, S6 Edge+.

Shares of Apple are up 0.6 percent.

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