Following success in global markets.
Samsung has launched the company’s mobile payment service, Samsung Pay, bringing Australian consumers and businesses a secure, fast, and simple way to pay. The mobile payment service works almost anywhere, and users can pay with a participating credit or debit card.
Samsung Pay is now available on compatible Samsung smartphones including the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge, with specific availability varying by local operator.
“This is the next development for Australians who use their smartphone as the central device to live, organise and enjoy their lives,” Samsung Australia VP of mobile, Prasad Gokhale.
“Australia is a market of early technology adopters and by providing a platform open to all partners, ranging from government to financial institutions and retailers, while upholding the highest standards of security and data privacy, Samsung is fueling the transition to a truly digital wallet.”
The arrival of Samsung Pay in Australia follows successful launches in South Korea, the United States, China and Spain.
“In the first six months of launching in Korea and the US, Samsung Pay has surpassed more than 5 million registered users and today has processed more than US$1billion of transactions in South Korea alone,” Samsung Pay global VP of mobile communications, Elle Kim said.
Samsung Pay includes three levels of security to help enable secure payments – fingerprint authentication, tokenisation and Samsung KNOX.
Partner integration
Outside of payments, Samsung Pay has the potential to be integrated with an array of partners, ranging from major retailers to government departments and ticketing companies.
Partner integration is even simpler with Samsung Pay because the technology utilises Near Field Communication (NFC) and Samsung’s proprietary technology called Magnetic Secure Transmission (MST), making it the only payment solution with wider acceptance.
“The MST technology enables Samsung Pay to support partners that use a traditional magnetic stripe, commonly found on loyalty cards, gift cards and transit cards, both in Australia and across the globe,” Kim said.
“It’s our goal to one day replace wallets, by making every card accessible on Samsung smartphones. In countries like Australia, where customers are already using their smartphones to make payments, our customers will certainly value the benefits of having all their cards in one place and Samsung Pay will provide that convenience to them,” Kim concluded.