Samsung is to offer mobile payment services on its next generation of smartwatches in a bid to keep pace with Apple.
Details of the watch remain unknown. Samsung favoured its own Tizen operating system over Google's Android Wear platform on its Gear range of smartwatches.
At Samsung spokeswoman told V3 "Samsung does not comment on rumour or speculation", when asked for confirmation of the report.
The news would put the wearable's arrival in line with Samsung Pay's forecast release. The service is expected to be available via "selected partners" in July.
Samsung announced that the firm will shut down its older Wallet mobile payment service to make way for Samsung Pay in May.
Samsung Pay is a mobile payments platform that was unveiled alongside the Galaxy S6 and Galaxy S6 Edge smartphones at Mobile World Congress in Barcelona.
The company claims that the payment service is superior to competing solutions as it is based on Near-Field Communications (NFC) and Magnetic Secure Transmission (MST).
The MST tech used in Samsung Pay reportedly lets people make mobile payments "even when a merchant only accepts magnetic strip wipes".
The move comes just after Apple launched its own wearable payments service. Apple listed NFC payment support as a key selling point for the Apple Watch when it launched the wearable.
Samsung and Apple are two of many firms currently working to create a mobile payments platform for wearables.
Google unveiled Android Pay alongside Android M at its I/O developer conference in May.
The solution is designed to work on any NFC-enabled device running Android 4.4 Kitkat and above.
PayPal acquired mobile payments firm Paydiant in March in a bid to wrestle control of the mobile payments platform from Apple, Samsung and Google.
Latest Tesla news: Tesla stock price tanks amid reports of 'widening probe' by SEC and claims the base Model 3 loses money
SEC 'probe' takes its toll on Tesla as new research suggests that Tesla loses $6,000 on every $35,000 Model 3
10nm Cannon Lake Core i3-8121U CPUs make a rare outing with Intel's NUC mini PC
'Notorious' Australian child hacker thought he had executed 'flawless' hack
The former employee says that Tesla fired him for bringing the accusations to management internally