South Korean tech giant Samsung has launched its Samsung Pay digital payment app in India today. The app will be available on select Samsung devices and has already started the sign-up process for early access.
Samsung pay basically links all your credit or debit cards onto an app, where you can undertake digital transactions directly from the cards without the need to carry them every day in your wallet. The card needs to be loaded on to the app once by adding the card details, CVV number, and after completion of the authentication process, you’re good to go.
The app supports both NFC (near field communication) and MST (magnetic secure transmission) for enabling transactions. This means the device will support transaction through the conventional card machine using MST, or the contactless payment online.
For a contact based payment terminal, the user will need to keep the phone near the MST or NFC terminal and authenticate with his/her fingerprint to complete the transaction. Contactless payment is for online payments and can be authenticated using the fingerprint scanner, eliminating the need for adding OTP or PIN codes to complete a transaction.
As of now, the early access is available with a handful of banks in India, including Axis, SBI, ICICI, HDFC and Standard Chartered. Support for American Express and Citibank is expected to come soon.
As of now, the devices compatible with Samsung Pay include Galaxy Note 5, Galaxy S7, Galaxy S7 Edge, Galaxy S6 Edge+, Galaxy A5 (2016), and Galaxy A7 (2016). Upcoming Galaxy S8 and S8 Plus would soon join the bandwagon.
Owners of these smartphones can sign up for an early access of Samsung Pay. This is kind of a bummer, as the only devices currently compatible with Samsung Pay are premium devices, leaving mid-range and budget smartphones incompatible.
Download link → Samsung Pay
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