Samsung Electronics Singapore today announced that Singapore will be the first market in the region to introduce the company’s flagship mobile payment service, Samsung Pay, a secure and easy-to-use mobile payment service that can be used to make purchases almost anywhere credit and debit cards are accepted. By as early as Q2 2016, Singapore will join South Korea, U.S and China in the list of Samsung’s priority markets to roll out this highly anticipated mobile payment service.
Extensive Partnership Ecosystem
Samsung Pay is strategically expanding its partnership ecosystem to provide greater flexibility, access and choice for customers in Singapore upon its launch. The service has confirmed its partnership with major payment networks – American Express, MasterCard and Visa, and major banks such as DBS/POSB, OCBC Bank and Standard Chartered.
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.
· SIMPLE: To make a payment on Samsung Pay, consumers simply need to swipe up on their compatible Samsung smartphone to bring up the last transacted credit or debit card, scan their fingerprint and make payment. It’s that easy!
· SAFE: Samsung Pay uses three levels of security to enable secure payments – fingerprint authentication, tokenisation and Samsung KNOX. Each transaction uses an encrypted digital token to replace user’s personal payment information and payments can only be authorised with approved fingerprint or PIN. Meantime, Samsung’s industry-leading KNOX security platform monitors malicious software and activities on user’s device for added security and protection.
· ALMOST ANYWHERE: Samsung Pay is the only mobile payment solution that lets consumers pay almost anywhere credit and debit cards are accepted. By incorporating Samsung’s proprietary Magnetic Secure Transmission (MST) technology, together with Near Field Communication (NFC), Samsung Pay will be compatible with the majority of existing and new payment terminals, allowing users to pay with their compatible Samsung smartphone almost anywhere that allows payment by swiping or tapping a credit or debit card.
Samsung Pay will be available on the Samsung Galaxy Note 5 4G+, Galaxy S6 edge+ 4G+, Galaxy S7 4G+ and S7 edge 4G+ upon its launch in Singapore.