Samsung is “ready with the next revolution” as it launches its digital payment service – Samsung Pay in India. Samsung Pay application is open for access registrations. It will enable the users to pay using credit cards, debit cards, Paytm, and unified payments interface or UPI.

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What does Samsung Pay offer?

Now, the users will be able to make payments with just a tap. With just one application, users can pay using different interfaces and even when they are on the move! To use Samsung Pay, open the application and select the pre-registered card you want to use for payments.  After that authenticate (use PIN or fingerprint) and take your phone closer to the PoS or ‘point of sale’ terminal.

How does the Application Work?

The application works with two patented technologies of Samsung – Magnetic Secure Transmission and Near Field Communication. It is now available to selected users with smartphones. Some of the famous brands include Galaxy S7, Galaxy Note 5, Galaxy S6 Edge+, Galaxy A5 and A7 (2016).

The upcoming launches like Samsung S8 and Galaxy S8+ will be compatible and ready to install Samsung Pay. The Samsung Gear S3 smartwatch will also be compatible with the application. It will also allow users to pay just by a single gesture of their hand.

Who can Avail the Services?

Samsung has also announced that the service is extended only to the specific account holders. As a result, it will only be provided to account holders in Citibank, Standard Chartered Bank, ICICI, SBI, Axis, HDFC, and American Express. Soon, all other major banks will be included in the list.

Asim Warsi, Senior VP at Samsung India, mentioned, “We have partnered with major banks and card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon.” He further added, “With Samsung Pay, we give our consumers the smartest way to make digital transactions by far.”

Fulfillment of Make for India Commitment of Samsung – The integration of the application with the local payments solutions is according to the company’s “Make for India” commitment. Samsung Pay has redefined digital payments in the country. Thus with Samsung Pay, the mobile handset giant has contributed significantly to the Digital India initiative. Samsung Pay will be available in 12 markets across the world including India, US, China, Singapore, and Brazil.

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