Maybank comes on board for Samsung Pay in Singapore

Samsung Electronics Singapore today announced its partnership with Maybank Singapore for Samsung Pay, the secure and easy-to-use mobile payment service that can be used to make purchases almost anywhere. Beginning 31 August, Maybank Credit or Debit Cardmembers will be able to make transactions at merchant locations across Singapore using Samsung Pay on their compatible Samsung smartphones. The new partnership boosts Samsung Pay’s comprehensive partner portfolio of major payment networks and banks, building on its commitment to provide greater flexibility, access and choice for customers in Singapore.

With the new addition to the ecosystem of partners across payment networks, banks, retailers and merchants, Samsung will be able to leverage on Maybank’s extensive customer base to promote the adoption and usage of mobile payments in Singapore. Maybank Cardmembers can also reap greater benefits from being able to rely on their digital wallets, to pay on the go at anywhere they are, whenever they want. Samsung Pay is available on the Samsung Galaxy Note7, S7 edge 4G+, S7 4G+, S6 edge+ 4G+ and Note 5 4G+, and is accepted at the vast majority of merchants wherever Mastercard or Visa is accepted, and is not limited to merchants that have updated to contactless terminals.

More Than a Payment Service
A secure and easy-to-use mobile payment service, Samsung Pay can be used to make purchases almost anywhere that credit and debit cards are accepted.

·         SIMPLEWith Samsung Pay, every transaction is made super easy. You simply need to swipe up to bring up the last transacted credit or debit card, scan your iris or scan your fingerprint or key in your PIN and make payment.

·         SAFEWith each separate transaction, Samsung Pay uses an encrypted digital token to replace sensitive card information to prevent fraud. Your payment information is better protected than ever before. Transactions made on Samsung Pay require registered fingerprint or iris scan or PIN for authorization, so you are in control when each payment is made. The encrypted fingerprint and iris scan information are stored in a separate, secure area of your device. Samsung’s industry-leading KNOX security platform, which received the most “Strong” ratings of any mobile security platform for Corporate Managed Security, provides real-time kernel protection and monitors malicious software and activities on your device for added security.

·         ALMOST ANYWHERESamsung Pay is accepted almost anywhere you can swipe or tap your credit or debit card. By incorporating Samsung’s proprietary MST (Magnetic Secure Transmission) technology, together with NFC (Near Field Communication), Samsung Pay is compatible with the majority of existing and new payment terminals, allowing users to pay with their compatible Samsung smartphone almost anywhere. Thanks to MST, Singapore users can also use Samsung Pay for transactions up to their individual cards’ limit.

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