Verizon has recently announced that the Samsung Galaxy S7 will be available from March 11. Now, the carrier has also confirmed that the Korean company's mobile payment and digital wallet service for the new smartphone will also be available on the same date.

The new Galaxy S7 and Galaxy S7 edge smartphones are loaded with features to keep the handsets at par with other flagships in the market. Reports suggested that Verizon versions of the Galaxy S7 will not include the Samsung Pay app. However, Verizon has clarified the issue and confirmed that the new Samsung phones will have the framework for using Samsung Pay.

"Samsung Pay is supported on the Verizon S7 models," says Albert Aydin, a Verizon spokesperson. "It's accurate that it's not a preload but we have not blocked or prevented the app from working on the device. Once it's available for download, customers can add or remove it whenever they'd like."

Jeffrey Nelson, the VP of communications at Verizon's Consumer and Enterprise businesses, also confirmed in a tweet that Samsung Pay is in testing but will be available for the Galaxy S7 and S7 edge when the carrier launches them.

Samsung Pay was initially launched in August 2015 in South Korea. The service made its way to select Samsung devices in the U.S. in September 2015. The mobile payment system is also expected to reach other countries such as the UK, Australia, Brazil and Singapore in 2016.

Customers who want to benefit from Samsung Pay will need to have a supported card from an accredited bank. The Samsung Pay app is available as a free download on the Google Play Store and the download file weighs only 3.2 MB. 

Currently, customers who own a Galaxy S7, Galaxy S7 edge, Galaxy S6, Galaxy S6 Active, Galaxy S6 edge, Galaxy S6 edge+ or Galaxy Note 5 can benefit from Samsung Pay. The device should be AT&T, T-Mobile, Verizon, Sprint or US Cellular.

The demand for mobile payment services has been increasingly growing. The International Data Corporation (IDC) predicts that mobile payments may reach as high as $4 trillion by 2020.

"As consumers' reliance on smartphones grows, as well as their level of trust that the devices are safe and secure, so will their use of mobile devices to complete transactions. The necessary pieces to spur consumer adoption of mobile payments are finally in place," says James Wester, the research director of worldwide payment strategies at IDC Financial Insights.

Verizon not supporting Samsung Pay on Galaxy S7 would have been a deterring factor for customers looking to purchase the device from the carrier. Fortunately for them, the latest confirmation from the carrier clears the air once and for all.

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