Samsung has launched its mobile payment service, Samsung Pay, in India. The South Korean giant had opened early access registration on the Samsung Pay website, but now users are getting access to the service.
Since the service is at an early stage, it is available with limited banks including Axis Bank, HDFC Bank, SBI, and Standard Charted and credit and debit cards from MasterCard and Visa. Samsung will adding support for more banks including Citibank and American Express in the coming weeks. Users can also add their Paytm wallet accounts in the Samsung Pay app.
Samsung Pay uses both NFC and MST (magnetic secure transmission) to make wireless payments. All you need to tab the phone to the payment terminal, touch the fingerprint scanner for authentication, and you’re done. There is a support for NFC, but we’re not aware how many places in India will have support for NFC-based payment solutions.
Perhaps the biggest limitation of Samsung Pay is the list of the devices that will support the service. As of now, Samsung Pay is available on the Galaxy Note 5, Galaxy S7, Galaxy S7 edge, Galaxy S6 edge+, Galaxy A7 (2016) and Galaxy A5 (2016). Both the Galaxy A7 (2017) and Galaxy A5 (2017) will support Samsung Pay.
Samsung is the first company to launch a mobile payment service in India. Last year, when Apple CEO Tim Cook visited India, he intends to launch Apple Pay in the country. However, there’s no update when Apple plans to introduce its mobile payment service, Apple Pay, in India. Other than Apple and Samsung, Google is yet another player that offers a mobile payment platform in the form of Android Pay.