Samsung Pay to roll out in Singapore to DBS, OCBC and StanChart credit card clients - The Straits times

published

Feb 22, 2016, 8:30 pm SGT

SINGAPORE - DBS, OCBC financial institution, American categorical and average Chartered financial institution credit card users in Singapore can be capable of use Samsung Pay, Samsung's mobile payment carrier, when it rolls out right here later this yr.

The Korean tech giant announced nowadays at cell World Congress in Barcelona, Spain, that Samsung Pay's roll-out in Singapore follows that in China in March, in addition to that in Australia, Brazil, Spain and the United Kingdom later in the 12 months.

Samsung Pay makes it possible for credit card homeowners to register their card details on opt for Samsung smartphones with close-box communique (NFC) instant transmission expertise. users can then pay for goods and capabilities through tapping their cellular contraptions on a contactless card reader at the cashier.

The NFC phones also come with a fingerprint reader, which adds a level of security to the credit playing cards, as payment can not be completed without the cardboard proprietor's fingerprint.

Samsung Pay will guide 4 principal payment networks: American categorical, China UnionPay, MasterCard and Visa.

The service, launched in South Korea and the us six months ago, has 5 million registered users chalking up transactions of over US$500 million (S$700 million) up to now.

"With Singapore having the world's highest penetration in smartphones, we see wonderful skills in proposing mobile-led and inventive options to our consumers," mentioned Mr Anthony Seow, Head of cards and Unsecured Loans, purchaser Banking neighborhood, DBS financial institution.

"DBS' partnership with Samsung Pay represents the next wave in card fee solutions, enabling DBS consumers to quite simply use their smartphones as their credit and debit playing cards with out compromising on safety."

local Samsung Pay card house owners can use the platform within the nations where the provider is purchasable.

Samsung phones that present biometric security and guide NFC include the Samsung Galaxy S6, Samsung Galaxy S6 edge, Samsung Galaxy notice 5, as smartly as the upcoming Samsung Galaxy S7 and Galaxy S7 area, so they can go on sale here on March 12.

Samsung's key competitor, Apple, had mentioned that it will even be rolling out its mobile price service, Apple Pay, here sometime this yr. The American company has no longer disclosed subscriber numbers or transaction amounts for Apple Pay.

Tweet

Subscribe to receive free email updates: