Samsung has got this years Mobile World Congress off to a great start by unveiling the latest in its flagship Galaxy S line of smartphones, the Galaxy S6 and S6 Edge, and revealing its plans for a mobile payment system.

Unlike previous models, the smartphones feature a slim body constructed from aircraft-grade metal, a clear attempt to rival Apples iPhone 6 and S6. The phones were designed from scratch, and feature curved edges and Gorilla Glass on both the front and back.

Inside, the phones make use of the worlds first 14nm mobile processor with 64-bit platform, and integrate wireless charging technology compatible with WPC and PMA standards. The devices feature front and rear cameras, boasting 5MP and 16MP resolution respectively, and a new Quick Launch feature enables users to launch the camera from any screen in under a second.

“With the all new Galaxy S6 and Galaxy S6 Edge, Samsung is offering whats next in mobility, along with a new standard to drive the global mobile agenda,” said JK Shin, CEO and head of IT & Mobile Communiciations division at Samsung. “By listening to our customers, and learning from both our success and missteps, we continuously push forward new technologies and ideas.”

Samsung have also been praised for removing many of its own in-house apps from the phones that have left users of previous models frustrated over the amount of memory they consumed. One feature that has been integrated, however, is Samsungs new mobile payments solution, Samsung Pay.

As predicted, Samsung Pay incorporates technology from LoopPay, which was acquired by Samsung around two weeks ago. The Magnetic Secure Transmission (MST) technology developed by LoopPay enables users to pay using conventional magstripe terminals, which could give Samsung a huge boost in initial adoption.

The solution also leverages NFC technology, and Samsung has partnered with payment networks including MasterCard and Visa, as well as financial firms including American Express and several US banks, to ensure widespread adoption of its solution.

According to the company, Samsung Pay has the potential to be accepted at around 30m merchants worldwide. While the initial launch will only cover the US and South Korea, it is likely that Samsung will look to roll out across a large number of markets as quickly as possible, to maintain the advantage MST technology gives it over Apple Pay for the time being.

“Samsung Pay will reinvent how people pay for goods and services and transform how they use their smartphones,” said Shin. “The secure and simple payment process, coupled with our robust partner network, makes Samsung Pay a truly game-changing service that will bring value to consumers and our partners in the ecosystem.”

You can keep up to date with all our coverage from Mobile World Congress 2015 here.