A large number of customers will be able to make use of Samsung's digital payment method, Samsung Pay, to make online and in-app payments from November.

Online payment with Samsung Pay is currently only available in South Korea. Samsung has inked a deal with MasterCard to use the company's digital payment system Masterpass, which is already supported by hundreds of thousands of online retailers in 33 countries. 

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"When we introduced online payments in South Korea last year, the service was well received by the market. Online payments accounted for more than 25 percent of the 2 trillion won in processed transactions, demonstrating that consumers may be actively looking for solutions to make their online experiences faster, simpler and secure," said Thomas Ko, VP and Global GM, Samsung Pay, Mobile Communications Business at Samsung Electronics. "By partnering with Masterpass in the U.S. and rolling out online payments globally, we will simplify the online transaction experience by eliminating the need for customers to fill out tedious online checkout forms, remember long passwords or fumble for their wallets."

Samsung is looking to provide benefits to its consumers who make transactions via its digital wallet. Customers can avail discounts on online websites.

Samsung will also make transactions through Samsung Pay very easy by using Express Checkout - which will save the debit/credit card and shipping information of the user, making the checking out process faster. Users will also be able to make transactions from a computer, a tablet or a phone with ease.

Security is a top priority for the company and Samsung will make no compromises with it. It will be using a unique method of encryption - a token-based encryption. Users will be able to authenticate transactions will the help of their fingerprint via the fingerprint sensors of their Samsung phones.