Samsung Launches Mobile Payments Service Samsung Pay

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Samsung Electronics announced the launch of its flagship mobile payments service, Samsung Pay, in India. Simple and Secure, Samsung Pay can be used to make purchases almost everywhere you can swipe or tap your debit or credit card to make payments.

Apart from allowing users in India to simply tap and pay on the go using their registered cards, Samsung Pay has integrated Paytm as well as the government’s Unified Payments Interface into the app. Samsung has also created a unique digital payment ecosystem by partnering with a number of issuers and card networks. Our Card Network and Issuer partners include Visa, MasterCard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Card and Standard Chartered Bank. Citibank India is a forthcoming issuer and its credit cards will be live on Samsung Pay shortly.

Samsung Pay is a highly secure platform as it works with three levels of security—fingerprint authentication, card tokenization and Samsung’s defense-grade mobile security platform Samsung KNOX.

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.”

Samsung Pay also allows Indian consumers to integrate their Paytm accounts into Samsung Pay, enabling them to pay by scanning QR codes securely, generating one-time codes for merchant payments and also do peer to peer money transfers. Samsung Pay will also be available on the Samsung Gear S3 Smartwatch shortly, allowing users to pay through their wearable device.

Asim Warsi, Sr VP, Mobile Business, Samsung India, said, “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.”

Samsung Pay is currently available on Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017) and Galaxy A7 (2017).

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