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South Korean giant Samsung will merge its mobile payment solution 'Samsung Pay' and password management application 'Samsung Pass' into 'Samsung Wallet' in India on Tuesday with more exciting features.

The tech giant teased from its @SamsungIndia account: "Have you marked your calendar yet? Only 1 day left for Samsung Pay's big transformation! Buckle up and watch this space to know more! T&C apply."

According to a video attached to the tweet, the launch of the new payment service is on January 31.

'Samsung Pay gets better, Just 1 day to go," said the tweet.

According to Sam Mobile, the company will rename it as Samsung Wallet which is now ready for the Indian market.

Earlier this month, the company had revealed that the new app would be launched in the country before the end of January.

Samsung Wallet would also be launched in seven other markets.

With the help of Samsung Wallet, users can securely store things like boarding passes, credit cards, cryptocurrency, debit cards, digital keys, identification cards, login passwords and even loyalty/membership cards.

Samsung Knox, a defence-grade digital security system, protects all the data in the application.