South Korean firm Samsung Electronics launched its mobile payment service in India. The mobile payment service named as Samsung Pay will support the peer to peer payment.
In association with various banks such as HDFC, ICICI, SBI, Axis Bank, Citi, Amex and Standard Chartered, Samsung Electronics will offer credit and debit card services for Samsung Pay in India.
According to the company, Samsung will add more local partners in coming days. Customers in India can also register Paytm to Samsung Pay money transfer. UPI payment platform will also be added to Samsung pay later.
Samsung Pay has been launched in 12 countries which are South Korea, USA, Spain, Russia, Singapore, Australia, Thailand, Malaysia, China, Brazil, Puerto Rico and India.
How to Use Samsung Pay
Samsung Pay can be used in any regular POS machine to swipe cards. Samsung Pay integrates two latest technology to support this - NFC(Near Field Communication) and MST (Magnetic Secure Transmission). The MST enables you to pay in regular POS machine. For payment you just have to select your card in the Samsung Pay app, bring it near to POS machine and the machine will detect that a card has been presented for payment and will displaythe amount. Once the amount is entered, you need to enter PIN and complete the payment.
Watch the official video of Samsung Pay