Samsung has today announced their own Mobile payment system, Samsung Pay in India. The pre-registration and early access have been rolled out last week. The service can be now used by those who have already signed up.
Samsung Pay uses NFC (Near Field Communication) sensor of the smartphone to pay easily on Shopping Mall, Brand outlets and even every supported locations. It also works with Magnetic Card Reader type Card Readers using a feature “Magnetic Secure Transmission’.
Registered users can now start adding their Credit and Debit cards to the Samsung Pay. Interestingly, Samsung also adds the support to link the Paytm to it – A mobile wallet system in India, partially owned by Alibaba Group. Currently, there are only few devices available supporting the Samsung Pay right now. They are in the Samsung’s high-end lineup including Galaxy Note5, Galaxy S7, Galaxy S7 edge, Galaxy S6 edge+, Galaxy A7 (2016), Galaxy A5 (2016).
Samsung has now added support for only a few Bankers – Axis Bank, HDFC, ICICI, and Standard Chartered Bank, and additionally Credit Card Holders of SBI. Only Visa and MasterCard Credit/Debit cards are supported by Samsung Pay and Samsung will soon add the support to American Express and Citibank Cards.
You can now register for Samsung Pay from here.