Samsung has launched the mobile payment service – Samsung Pay in India. The Samsung Pay will work with most major banks, and it also supports UPI-based payment & Paytm. For Samsung Pay, Samsung has partnered with Visa, MasterCard, and American Express and they act as payment gateways. Sooner, standalone app is also available for Samsung Gear S3 smartwatch.
There are many launches offers like Mastercard users get 20 percent instant discount on Pizza Hut orders, 15 percent instant discount on Barista orders, and discounts on select combos at Cafe Coffee Day. Axis Bank users get up to Rs. 1,000 cashback, HDFC Bank users get 5x reward points on credit cards and 5 percent cashback on debit cards, SBI credit card users get up to Rs. 100 cashback per transaction, Paytm users get up to 100 percent cashback on movie tickets, ICICI Bank users get up to 50 percent cashback on credit and debit card transactions and Standard Chartered users get up to 20 percent cashback on credit and debit card transactions. Visa users get a complimentary popcorn+beverage combo at INOX Cinemas.
To get started with Samsung Pay, you have to register an account and after that, you have to register your cards. This is a one time process and after that, you can easily get started with it. For your information, the Samsung Pay works with Samsung’s patented Magnetic Secure Transmission (MST) technology as well as with Near Field Communication (NFC). MST replicates a card swipe by wirelessly transmissions magnetic waves from the supported Samsung device to a standard card reader. Through MST, Samsung Pay will work seamlessly on a majority of Point of Sale terminals in India.
For those who are worried about their privacy and security, Samsung says that there are three security levels – fingerprint authentication, card tokenization and Samsung’s security platform Samsung KNOX.
With the launch of Samsung Pay in India, the payment service is available in 12 global marketings including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand, and Malaysia.
As of now, the only fewer number of smartphones supported and they are – Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017) and Galaxy A7 (2017).
Press Release Quote’s:
Mr. HC Hong, President, and CEO, Samsung Southwest Asia, said:
“Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India.”
Mr.Thomas Ko, Global GM of Samsung Pay, said:
“When we launched Samsung Pay, our goal was to enable consumers across the globe to make payments that are simple, secure and accepted almost everywhere. Over the past year and a half, this vision has evolved into building a complete digital wallet solution, allowing customers worldwide to not only make payments but also use membership and transit cards, receive deals and rewards and more.”
Mr. Asim Warsi, Senior Vice President, Mobile Business, Samsung India, said:
“Our insights show that convenience, security, and acceptance are seen by consumers as the most important influencers when choosing among different digital payment options. With Samsung Pay, we give our consumers the smartest way to make digital transactions by far. Samsung Pay is highly secure through the signature KNOX Platform, fingerprint authentication, and tokenization. We have partnered with major banks and card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon.”