Samsung Sees Strong Adoption Of Samsung Pay, Announces Expansion Plans
Samsung claims that its Samsung Pay mobile payment service has reached a global milestone – about five million registered users processed over 500 million dollars in the first six months. Samsung Pay was introduced last year, and will be soon expanded to more locations around the world, besides the U.S. and Korea. The service now supports eligible credit and debit cards from more than 70 major and regional banks.
In 2016, Samsung Pay will start global expansion beginning with China in March, followed by Australia, Brazil, Singapore, Spain and the U.K. later in the year. Additionally, Canada will be added to the new launch roadmap.
Samsung Pay is currently available on select Galaxy devices including S6, S6 edge, S6 edge+, Note5 as well as premium and mid-range options such as the 2016 models of both Galaxy A5 and A7.
In addition to mobile payments, Samsung is partnering with BC Card, Hana Card, KB Kookmin Card, Lotte Card, NH Nonghyup Card and Samsung Card to provide a quick online payment service in South Korea. By adding this new service, consumers will be able to use the Samsung Pay Fingerprint Authentication to pay online.
In 2016, Samsung Pay will also support four major payment networks, including American Express, China UnionPay, MasterCard, and Visa. Many of the countries’ major banks and partners including American Express in Australia; Banco do Brasil, Bradesco, Brasil Pre-Pagos, Caixa, Itaú Unibanco, Nu Bank, Porto Seguro and Santander in Brazil; American Express in Canada; China Construction Bank, China Everbright Bank, China Guangfa Bank, China Minsheng Banking Corp, Industrial and Commercial Bank of China and Ping An Bank in China ; American Express, DBS, OCBC Bank and Standard Chartered Bank in Singapore; Abanca, Banco Sabadell, CaixaBank, El Corte Inglés and Imagin in Spain; American Express, HSBC, MBNA, Nationwide Building Society and Transport for London (TfL) in the U.K.
Samsung Pay can be used to make purchases nearly everywhere cards are accepted, and it is compatible with the majority of existing and new terminals.
To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay.
The service uses three levels of security to enable secure payments – Fingerprint Authentication, tokenization and Samsung KNOX.
Furthermore, Samsung Pay will expand its services to more than just credit or debit cards. Users can add transit passes, coupons and membership cards.