Samsung to Launch Mobile Payments System in Challenge to Google, Apple

The world's biggest maker of Android phones launched a major challenge to Google Wallet on Sunday, saying it will soon launch a rival phone-based payment system. Samsung Pay will appear first in the summer in the U.S. — later in other markets — and will allow consumers to make tap-and-go payments with a smartphone. It's being introduced as Google is moving to strengthen its position in the mobile payments market to better compete with Apple Pay.