Samsung Pay is now set to roll out in India during the first half of this year through a deal with American Express, according to Mashable.
Samsung is reportedly also in discussions with Visa and Mastercard to expand Samsung Pay’s reach in India to their brands.
Little-noticed during India’s cash-crunch late last year — triggered by the government’s demonetization of about 80% of its currency — was Samsung Pay quietly testing the waters in India with an eye to opening up vital new digital payment options in a nation that relies heavily on cash for everyday transactions.
The deals would enable consumers to make contactless mobile payments with newer Samsung-branded handsets at any merchant terminals that support those card brands.
Samsung Pay might be coming to India — here’s what you need to know about it
The solution works only with higher-end samsung smartphone
like the Galaxy S7, S7 Edge, S6 Edge+, S6, S6 Edge, S6 Active, and Galaxy Note 5.
Like rivals Android Pay and Google Pay, this is a platform that allows individuals to pay for goods and services by waving the samsung device near a point of sale (PoS) machine.
So what is samsung Pay?
NewsWith domestic companies already cashing in on the country’s cash crunch, a Mashable report stating that Samsung might be working to bring its e-payment solution Samsung Pay to India in the first half of 2017 has caused a stir.
Samsung Pay does not store the account or credit card numbers of cards on the device, instead using tokenisation for transactions.
Samsung Pay launches officially in Thailand
Out of the gate, Samsung Pay supports MasterCard, Visa, KCC, Bangkok Bank, Citibank, KasikornBank, KTC, and Siam Commercial Bank.
Samsung expanded its mobile payment solution, Samsung Pay, to more countries across the world in 2016.
Samsung Pay should be available starting today for users in Thailand with compatible devices (there’s no specific list, but it should be the last two years’ flagships plus last year’s mid-range devices).
Thailand is transferring into a cashless society and the government seems to have already put in place an e-payment strategy, so Samsung Pay comes in at the right time for the country.
It supports both MST and NFC payments, and like all Samsung Pay implementations, it requires a fingerprint authorization on your device and replaces your sensitive data with tokens for more secure transfers.
collected by :Molly Tony