Samsung Pay launched in India Supporting Paytm Wallet ,works everywhere.
After the master stroke i.e. demonetization by Indian prime minister Narendra Modi, India is going digitized. After demonetization , e-payment methods, online payments via wallet and money more things happened. So in the of race digital India, the South Korean Giant, Samsung launched Samsung Pay Service in India on 6th March, 2017. Samsung is also starting partnering with the master cards, visa debit and credit cards.
Now the company has started with Axis bank, Hdfc bank, ICICI bank, SBI bank and Standard chartered bank. Also Samsung will soon start accepting cards from Citibank as well. The Samsung pay services will also support paytm wallet..
Samsung Pay works everywhere you can swipe or tap your card, making shopping or dining easier and more convenient than ever.
Technology support in Samsung pay means how its works ?
Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Samsung Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use
Magnetic Secure Transmission or MST, is a groundbreaking method of sending data using magnetic waves. MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader. MST turns every card reader into a contactless payment receiver.
what Samsung smart phones support Samsung pay application ?
Galaxy Note 5, Galaxy S7, Galaxy S7 Edge, Galaxy S6 Edge+, Galaxy A5(Built in 2016) and Galaxy A7(Built in 2016).
Company is also getting customers by an Early Access Program. In order to use this service, customer need to go through the Samsung Official website and register there as Early Access Program.
How to get Samsung pay app and how we can register into it ?
Anyone can download the Samsung pay service app from Play store (Samsung Pay App) and it has size of 81 MB and also you can register with email ID on this app. This app also demands a security pin and fingerprint for security purpose. If anyone has already signed up for the Early Access program, he can able to set his Samsung pay account and can use it for payments.
what security mechanism support Samsung pay app ?
- Utilizes same protection as your credit and debit cards
- Authenticates every transaction with your fingerprint or pin
- Creates a unique, random set of numbers for every payment
- Keeps your info encrypted in a separate and secure data vault
As the new Android update Nougat is rolled out for many of the Samsung devices in India. From the Android Nougat update, those devices of Samsung who are not able to avail Samsung pay app are now avail this app showing message “The future of payments is coming soon”. As India is a very big space for Samsung and so many users of Samsung in India, it may help Samsung to grow in market share.
The effect of demonetization can be seen everywhere now. Peoples are using increasingly mobile wallets for secured transactions. So we can say this that Samsung has taken a successful step. From the news we also heard about Sunder Pichai, CEO of Google also planning to launch a mobile wallet in India for android users but no date has announced yet.
Samsung pay services hold multiple cards from different banks which also including Samsung reward points, so we can say it is a central database which perform as a faster gateway for online transactions just with a single click or tap.
How many type of payment method support in Samsung pay application in India?
1.Credit card and debit card –You can add your credit and debit card as well in Samsung pay application and its secure and safe
2.Mobile wallet payments-Use your mobile wallet to make payments using Show Code, Scan Code and Send Money options. Current wallet partner: Paytm
List of countries support Samsung pay!
The Samsung pay service is not only supporting in India but it also support a total of 13 countries, Brazil, Australia, Canada, China, Russia, Malaysia, Puerto Rico, Singapore, Spain, South Korea, the United States and Thailand.