Samsung to launch digital payment solution 'Samsung Pay' in India today

22 March 2017, 12:22 PM
Digital Payment - File Photo
Digital Payment - File Photo

Leading smartphone major Samsung is expected to unveil 'Samsung Pay', its digital payment solution in India on Wednesday as Indians look more akin to using digital payment methods after Prime Minister Narendra Modi’s demonetisation exercise.

Samsung had started signing up users for early access to the new payments method and the owners of the Galaxy Note 5, Galaxy S7, Galaxy S7 Edge, Galaxy S6 Edge+, Galaxy A5 (2016), and Galaxy A7 (2016) can register online to avail an early access of the mobile payments service.

The early access service is available with Axis, HDFC, ICICI, SBI, and Standard Chartered banks. Samsung is expected to make services avaliable for Citibank and American Express soon.

Users, who sign-in for early access program, will be among the first ones to be informed when the service officially goes live. These users will also possibly be the first ones to access it when Samsung Pay goes live in the country.

Additionally, Samsung phones like the Galaxy S6 and Galaxy S6 Edge alongside the upcoming Galaxy S8 and Galaxy S8+ is also expected to be compatible with the service. Other handsets that are eligible for the early access programme is also set to receive Samsung Pay support via a software update.

Samsung Pay works with both NFC and MST (Magnetic Secure Transmission). This means it works with any payment terminal (card swiping or reading machine) that accepts contactless payments or the more traditional method of swiping your card through the reader.

First Published: Wednesday, March 22, 2017 10:49 AM

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