Samsung Pay chief talks security

Samsung has launched its mobile wallet service Samsung Pay in South Korea.

It joins Apple - which launched a rival facility last year - in trying to convince shoppers to use their handsets, rather than plastic cards, to make in-store purchases.

Samsung's technology works with a larger number of existing payment terminals because it can interact with magnetic stripe readers, which are still popular in South Korea and the US.

Samsung Pay chief Thomas Ko told the BBC's Michelle Fleury that consumers would decide whether smartphones replace their wallets.