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Samsung Pay mobile payments platform has been officially launched in India, weeks after the company started the Early Access programme for the service. The new payments solution will work with most major banks, UPI, and Paytm. At the Samsung Pay India launch event, NITI Aayog CEO Amitabh Kant said the solution will help drive the formal economy in India, where 86 percent of the transactions are still done using cash. Compared to the Early Access programme, Samsung Pay at its formal launch supports American Express cards.
To recall, Samsung Pay supports both NFC and MST (Magnetic Secure Transmission) that allows a user to send a magnetic signal from smartphone to the payment terminal's card reader.
Samsung Pay partner banks and UPI integration
Partner banks for Samsung Pay at launch include Axis Bank, HDFC Bank, ICICI Bank, SBI, Standard Chartered, and American Express. Citibank will become an issuing partner soon, with its credit cards set to supported in the near future. As mentioned above, Samsung Pay users can link their Paytm Wallet to the service.
Samsung Pay UPI integration is currently in its beta phase, and will roll out within two weeks, the company says. It is live now, however, and the UPI ID assigned to Samsung Pay is @pingpay. Users can create their user ID with username@pingpay to send or request money. The Samsung Pay UPI solution is powered by Axis Bank.
Also announced at the event was imminent support for company's Gear S3 smartwatch.
With Samsung Pay India launch, the solution is fully available in 12 global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.
HC Hong, President and CEO, Samsung Southwest Asia, said, "Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India."
"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 Mr. 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 card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon."
Samsung Pay supporting smartphones
The list of compatible devices for Samsung Pay mobile payment solution includes Samsung Galaxy Note5, Samsung Galaxy S7, Samsung Galaxy S7 Edge, Samsung Galaxy S6 Edge+, Samsung Galaxy A7 (2016), and Samsung Galaxy A5 (2016).
Samsung Pay India launch offers
Exclusive offers for Samsung Pay users were also detailed. Mastercard users would get 20 percent instant discount on Pizza Hut orders, 15 percent instant discount on Barista orders, and discounts on select combos at Cafe Coffee Day.
Axis Bank users can get up to Rs. 1,000 cashback; HDFC Bank users get 5x reward points on credit cards and 5 percent cashback on debit cards; SBI credit card users get up to Rs. 100 cashback per transaction; Paytm users get up to 100 percent cashback on movie tickets; ICICI Bank users get up to 50 percent cashback on credit and debit card transactions, and Standard Chartered users get up to 20 percent cashback on credit and debit card transactions. Finally, Visa users get complimentary popcorn+beverage combo at INOX Cinemas. Full details of all offers are available on the Samsung Pay India site.
Samsung Pay Launched in India: Partner Banks, How to Use, Supporting Smartphones, and More | NDTV Gadgets360.com
To recall, Samsung Pay supports both NFC and MST (Magnetic Secure Transmission) that allows a user to send a magnetic signal from smartphone to the payment terminal's card reader.
Samsung Pay partner banks and UPI integration
Partner banks for Samsung Pay at launch include Axis Bank, HDFC Bank, ICICI Bank, SBI, Standard Chartered, and American Express. Citibank will become an issuing partner soon, with its credit cards set to supported in the near future. As mentioned above, Samsung Pay users can link their Paytm Wallet to the service.
Samsung Pay UPI integration is currently in its beta phase, and will roll out within two weeks, the company says. It is live now, however, and the UPI ID assigned to Samsung Pay is @pingpay. Users can create their user ID with username@pingpay to send or request money. The Samsung Pay UPI solution is powered by Axis Bank.
Also announced at the event was imminent support for company's Gear S3 smartwatch.
With Samsung Pay India launch, the solution is fully available in 12 global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.
HC Hong, President and CEO, Samsung Southwest Asia, said, "Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India."
"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 Mr. 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 card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon."
Samsung Pay supporting smartphones
The list of compatible devices for Samsung Pay mobile payment solution includes Samsung Galaxy Note5, Samsung Galaxy S7, Samsung Galaxy S7 Edge, Samsung Galaxy S6 Edge+, Samsung Galaxy A7 (2016), and Samsung Galaxy A5 (2016).
Samsung Pay India launch offers
Exclusive offers for Samsung Pay users were also detailed. Mastercard users would get 20 percent instant discount on Pizza Hut orders, 15 percent instant discount on Barista orders, and discounts on select combos at Cafe Coffee Day.
Axis Bank users can get up to Rs. 1,000 cashback; HDFC Bank users get 5x reward points on credit cards and 5 percent cashback on debit cards; SBI credit card users get up to Rs. 100 cashback per transaction; Paytm users get up to 100 percent cashback on movie tickets; ICICI Bank users get up to 50 percent cashback on credit and debit card transactions, and Standard Chartered users get up to 20 percent cashback on credit and debit card transactions. Finally, Visa users get complimentary popcorn+beverage combo at INOX Cinemas. Full details of all offers are available on the Samsung Pay India site.
Samsung Pay Launched in India: Partner Banks, How to Use, Supporting Smartphones, and More | NDTV Gadgets360.com
