Rumors that Samsung would launch a variant of its mobile payment service have been circulating for a while, but now the company has finally confirmed that it's coming to Android smartphones in South Korea sometime during this first quarter.

Not only will the new platform, called Samsung Pay Mini, allow you to pay for goods online using an Android smartphone, those who download the app will also be able to use Samsung Pay services such as lifestyle, membership, and transportation.

While Pay Mini works on non-Samsung Android devices, only handsets that have a display resolution of at least 1280 x 720 and Lollipop 5.0 or above will be able to use the app.

The main difference between the two services is that Pay Mini doesn't support offline payments through a reader, which requires a compatible Samsung smartphone when using the company's mobile payment system.

It had been reported that the Pay Mini app was also heading for iOS devices, but ETNews claims that Apple rejected the registration of its rival's mobile payments app on the app store.

As reported by CNET, Samsung also said it would be updating both Pay and Pay Mini in South Korea with a new feature called Shopping, which connects the services directly to local online shopping malls that are partnered with the company.

While Samsung Pay Mini is launching in South Korea first, the smartphone maker says it will be rolled out to other markets, though there's no word on when that might be.