Samsung Electronics Co. Ltd., announced that Samsung Pay, the most widely accepted mobile payment system, successfully launched in three new countries, across three continents in three weeks, including: Spain – the first market to launch in Europe, Singapore – the first within the South East Asian region and Australia – the first market to launch within the Oceania region.
„The launch marks a significant milestone in the service’s global expansion, with a number of additional markets, including Brazil, Canada and the U.K., planned this year.”, according to the press release.
“Samsung Pay’s momentum is bringing us closer than ever to a world without wallets,” said Injong Rhee, CTO and EVP of Software and Services, Mobile Communications Business at Samsung Electronics. “Consumers are seeking convenience, security and ease of use in a mobile payment solution, and these latest launches show how Samsung Pay is providing an even faster and easier experience to a broader base of global users.”
Samsung Pay is fueling strong consumer adoption and a growing partner ecosystem. The service has processed more than $1 billion in transactions in South Korea since its launch less than a year ago (August 2015).
Also since launching in the U.S. in September 2015 with four banks and support for credit, debit and private label credit card payments, Samsung Pay is now supported by 300 major and regional banks and credit unions. Value-added services such as gift cards, and membership and loyalty features have been added as well with more than 110 merchants joining Samsung Pay’s Gift Card program and more than 140 retailers participating in its membership and loyalty cards program.
Building on its extensive ecosystem, Samsung recently announced partnerships with both Citi for Asia Pacific and Ant Financial Services Group, parent company of Alipay, in China that further bolster Samsung Pay’s compatibility with payment networks and banks, and provide choice and flexibility to its users.
Samsung Pay, a secure and easy-to-use mobile payment service, can be used to make purchases almost anywhere cards are accepted. To make a payment on Samsung Pay, users simply swipe up on their eligible Galaxy smartphone, scan their fingerprint and pay. Samsung Pay uses three levels of security to enable secure payments: fingerprint authentication, tokenization and Samsung KNOX, Samsung’s defense-grade mobile security platform.
Samsung Pay is currently available on select Galaxy devices including the new Galaxy S7 and S7 edge, S6 edge+, Note5 as well as premium and mid-range options like the 2016 models of the Galaxy A5, A7 and A9. Availability may vary by country and region.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
