Mastercard, together with Samsung India officially announced the launch of Samsung Pay in India. Samsung Pay will enable Mastercard cardholders to use their supporting Samsung Galaxy mobile devices to make payments. Mastercard is working closely with partner banks including Axis Bank, HDFC Bank, ICICI Bank, SBI Bank and Standard Chartered Bank to bring this new service to cardholders in India.
After a successful roll out in various countries, Samsung Pay was launched in India today. Samsung Pay is a simple, secure and convenient mobile payments solution that works virtually anywhere you can swipe or tap a card. This allows customers to pay with their debit or credit card using compatible Samsung Galaxy devices.
The Indian government is making considerable efforts to transition India into a cashless society through the implementation and acceleration of e-payments adoption. The collaboration is therefore, timely as the industry strives to deliver newer innovations to cater to the rapidly evolving mobile payments space.Also read: GoDaddy Launches 'Website Builder' For Small Businesses in India
The Mastercard Digital Enablement Service (MDES) enables Mastercard credit and debit cardholders from participating banks to use Samsung Pay. This platform transforms Samsung mobile devices into commercial devices that are able to make contactless transactions, providing a secure, convenient and smart payment experience for users. Every purchase made with a Mastercard using Samsung Pay offers consumers and retailers all the benefits and guarantees of a transaction with the physical Mastercard card.
To make payments using their Mastercard card, consumers choose their preferred Mastercard credit or debit card when accessing Samsung Pay, scan their fingerprint and tap their device on a contactless terminal to complete a purchase. To reward cardholders, Mastercard will provide exclusive benefits and loyalty perks to Mastercard cardholders when they make payments using Samsung Pay at Café Coffee Day, Barista and Pizza Hut.
With the launch of Samsung Pay in the country, India adds to the growing list of countries where Mastercard has collaborated with Samsung to bring Samsung Pay to cardholders. To date, cardholders in the markets of Australia, Brazil, Malaysia, Puerto Rico, Russia, Singapore, Thailand and the United States can perform transactions with their Samsung mobile devices.
"Our insights show that convenience, security and acceptance are seen by consumers as the most important influencers when choosing among different digital payment options,” said Asim Warsi, Senior Vice President, Mobile Business, Samsung India. “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 payment networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon.”
Samsung Pay will be made available in India on select Galaxy devices including Galaxy S7 and S7 edge, S6 edge+, Note5, Galaxy A5 (2017 and 2016) and A7 (2017 and 2016).Also read: Xiaomi Mi TV 4A Series With Built-In Artificial Intelligence Launched
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