Verizon customers rose a big stink when they found out that Verizon wasn't allowing Samsung Pay to work over their network. For months, the Samsung Pay service (currently working on specific Samsung devices) was working just fine on the other US carriers. Only Big Red was the big holdout on the service.
After the big backlash from customers, Verizon promised to get the Samsung Pay working on their network by October, and it looks like they made due on that promise. A new Verizon smartphone update just started pushing out and it lets Samsung Pay work on Verizon's network (on compatible Samsung devices). To be clear, it only works with MasterCard, Visa or AMEX issued by a major bank, though, such as Citi and Bank of America.
There's one other thing this new update brings with it besides Samsung Pay compatibility. It also includes a patch for the Stagefright vulnerability. Even if you don't care about Samsung Pay, you might want to be sure to get this update just because of that.