Samsung officially launches Samsung Pay for everyone in India

Not to be left behind by the likes of Samsung, Apple, and Google, LG is getting prepared to launch its own mobile payment service as early as June this year, at least in South Korea, as the company officially revealed. "I am confident Samsung Pay will redefine digital payments and contribute to Digital India", HC Hong, President and CEO, Samsung Southwest Asia, told reporters here.

Almost 90% of all POS machines in India work on magnetic technology for payments with cards.

For NFC based transactions one can select and authenticate the transaction through biometrics provided by the fingerprint sensor or a 4 digit PIN.

Samsung Pay works with both NFC and MST (Magnetic Secure Transmission). With its launch in India, Samsung Pay is fully available in 12 global markets - South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.

Owners of supported Galaxy devices in India will be able to install the Samsung Pay app today and add VISA, Mastercard, and American Express cards issued by Axis Bank, HDFC Bank, ICICI Bank, SBI, and Standard Chartered Bank, with Citibank India to follow shortly.

As soon as we get some more details about LG's mobile payment system and some details on the exact launch date of the service, we will let you guys know.




A customer with a supported device needs to download the Samsung Pay app and set it up.

Right now is the inflection point for the smartphones market, and companies which understand consumer behaviour will survive in the future, said a top Samsung India Electronics official. However, it does look suspiciously like the real deal, as the user interface seems to follow Samsung's design conventions, and the app itself responds to screen touches, that is, it isn't just a screenshot.

Currently, Samsung Pay is available on select devices, including Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017) and Galaxy A7 (2017). The Samsung Pay service uses a similar technology. "For India, we have added more ways to pay because the adoption of debit cards and now Paytm and UPI is higher", said Warsi. For most users, especially in rural areas, a VoLTE-enabled feature phone will do since Paytm is also available offline. The app offers three layers of security which includes fingerprint authentication, card tokenisation and Samsung KNOX.

"Consumers will find Samsung Pay very useful and will increasingly move towards Samsung devices which support Samsung Pay and within those use most of their payments applications through Samsung Pay", Asim reiterated.

Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.

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