Mastercard announced Tuesday (April 4) that Mastercard cardholders from select banks in the United Arab Emirates (UAE) will now be able use the Samsung Pay service to make payments in a quick and secure way. Mastercard said in a press release the move is part of its efforts to displace cash, spur innovation and drive growth of cashless payments in the UAE.
According to Mastercard Samsung Pay, Samsung’s mobile payments service, is an easy-to-use and secure platform that gives users a contactless way to pay using their compatible Samsung Galaxy devices at compatible point-of-sale (POS) terminals. Based on near-field communication (NFC) and magnetic secure transmission (MST) technologies, the secure service integrates fingerprint authentication, card tokenization and Samsung’s defense-grade mobile security platform, Samsung KNOX. Samsung Pay will have a unique advantage of enabling payments at contactless as well as non-contactless POS terminals in UAE, noted Mastercard in the press release. Mastercard said it has been actively driving contactless payments in the market.
“The launch of Samsung Pay in the UAE signals exciting times for all stakeholders in the Middle East and Africa’s payments industry and strengthens our pursuit to launch innovative solutions that will deliver enhanced consumer experiences and step up the adoption of digital payments. As digital payments evolve, Mastercard is committed to building partnerships with technology players like Samsung to help banks and other partners offer interoperable solutions with safe and frictionless user experiences. The UAE is already at the forefront of encouraging and integrating smart payments and our support towards facilitating the successful implementation of Samsung Pay reinforces our commitment to matching the country’s impressive strides in strengthening the digital economy,” said Khalid Elgibali, Division President, Middle East and North Africa at Mastercard, in the press release.
Mohammed Gharaibeh, head of the IT and Mobiles (B2B) division at Samsung Gulf Electronics, said in the press release it is excited to partner with Mastercard and is confident the deal will benefit the digital payment sector.
“Digital solutions require strong partnerships, and we see it here with this launch as enhanced hardware security, including biometrics and Samsung Knox works seamlessly with Mastercard digital enablement service (MDES). With its powerful security features, MDES will enhance the shopping experience for Samsung Pay users by offering them complete peace of mind as they make contactless transactions that are safe, swift and in sync with their lifestyles,” he said.