Tag: samsung mobile payments

This mobile wallet has now made its way Down Under and aims to replace cash and train tickets.

In the competitive world of mobile payments, the Samsung Pay app has now launched in a new market. Australians have another mobile wallet choice in this area where there are many rivals but where adoption is scarce.

Mobile wallet apps have not been taking off at the rate expected by many of the companies behind them.

The Samsung Pay app was launched as a result of a partnership with both Citibank and American Express. The goal is to be the first contactless mobile payments platform to truly take off in the country.

Australians who use Samsung smartphones can pay at contactless terminals through those mobile devices. They simply need to download the mobile wallet and connect it with an American Express or Citibank card. That said, they cannot use Citibank and Amex branded cards from other banks with this mobile application.

The Samsung Pay app lets consumers complete payment transactions through tap and pay terminals.

This has made Australia the fifth market to be able to use Samsung Pay. Before Australia, the countries using this mobile app have been: Korea, the United States, China and Spain. That said, Singapore followed closely on its heels, having launched only days later.

Samsung Pay will function on any Galaxy smartphone, provided it has at least Android 6.0 Marshmallow or higher. Its interface is designed to be simple and straightforward with a swipe to pay format. Samsung claims this makes it just as easy to pay with a smartphone as it is with a card. In fact, the company said it might be even easier for some.

The Korean consumer electronics company also identified four secure steps that are taken to complete every Samsung Pay app transaction:

• Open payments by swiping up from the home screen
• Select the desired card
• Place your finger on the home button so you can verify your fingerprint
• Tap the smartphone against a contactless terminal

The mobile payments system uses tokenization to make certain that card details remain private. They are never shared with the merchant.

The mobile payments service has just stepped into the Spanish marketplace through CaixaBank.

Consumers in Spain now have a new opportunity to use mobile payments, as Samsung Pay has rolled out its service in the country, following a deal that has brought it its first support from financial services in the country in the form of ImaginBank, a subsidiary of CaixaBank.

This will make it possible for customers with certain models from the brand to pay using their smartphones.

As of yet, mobile payments have not been tremendously successful in the country. Some banks have already attempted to offer their support to Apple Pay, but when it actually came to enabling the service with their cards and point of service readers, they have appeared to be less motivated. Yet, Samsung Pay has managed to obtain the support of CaixaBank and it has become immediately effective.

A press release has confirmed the partnership between the bank and Samsung Pay for Spanish consumers.

The bank released the PR in order to reveal that it has become the “key partner” with Samsung in its mobile payments in terms of its “promotional campaign strategy.” In this strategy, there will be 700,000 consumers across the country who will have immediate access to this m-payments service.

The bank has expressed a considerable amount of enthusiasm, which is being seen as a nod to the potential that comes along with mobile payments platforms such as that with which it has just connected itself. When taking into consideration that the bank already owns its own mobile payments service called CaixaBank Pay, which launched last September, it is quite notable that it is as involved as it is in this second option, as well.

The bank stated that supporting Samsung Pay is a demonstration of its dedication to “developing its payment method innovation strategy with the aim of incorporating the latest global trends in its offer.” This is also being seen as a positive move for Samsung’s mobile wallet, which has been working hard to try to keep up in the race against its top rival, Apple Pay. The Apple wallet has also been spreading into new markets worldwide. It’s expected that the service will also be seen in the U.K and China, before long.