Payment Methods

Samsung Pay Is Now Available In India

Samsung Electronics officially launched Samsung Pay in India in late February, enabling users to sign up to get access via an early-access program.

According to a report, users who sign up for the early access program will be able to set up a Samsung Pay account and begin using it to make payments. The report noted Samsung Electronics has collaborated with Axis, HDFC, ICICI, SBI and Standard Chartered banks to offer the service. Samsung Electronic Pay users are also able to add their Paytm wallet accounts in the Samsung Pay app. In the future, Samsung is expected to support credit cards and debit cards from Citibank, noted the report. Currently Samsung Pay works with a slew of Samsung phone, including Galaxy S7, Galaxy S7 edge, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 and Galaxy A7 in India, noted the report.

Late last month Samsung Malaysia Electronics announced it had inked partnerships with several banking players as part of its move to expand Samsung Pay’s ecosystem in Malaysia. According to Samsung, CIMB, Citibank and Standard Chartered are now partners in Samsung’s mobile payment service Samsung Pay, with Hong Leong Bank expected to join soon. The partnership means these banks can give their customers with eligible payment cards the ability to use digital mobile payment experiences. What’s more, Samsung said the partnership enhances its existing collaboration with Maybank and the expansion of its affiliation with payment networks Mastercard and Visa and loyalty card partners B Infinite, Bonuslink and Sunway Pals.

“Samsung Pay is a robust mobile payment platform that not only supports the shift toward digital wallets today, but provides a conducive and future-proof avenue for secure ePayments in Malaysia,” said Lee Jui Siang, vice president of the Mobile and IT Business Unit at Samsung Malaysia Electronics, in a press release. “As Samsung has done with other markets, we have taken a customized approach to our launch in Malaysia, collaborating with key partners to turn swift and secure mobile payments into reality for our users. We are proud to call leading financial institutions and merchants our partners and to introduce Samsung Pay as the most widely accepted mobile payment service in Malaysia. We are working tirelessly to ensure that Samsung Pay is here to stay, and this includes our future plans to boost the service through loyalty programs.”



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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