#Asia Samsung Pay set to launch in Singapore next week; Southeast Asia’s first country

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Samsung Pay will be available on the Samsung Galaxy Note 5, the S6 edge, S7 and the S7 edge

SAMSUNG FINAL

Singapore will become the first country in Southeast Asia to introduce Samsung Pay next thursday after the South Korean electronics giant announced the mobile payment service will launch on June 10.

The country will be the fifth in the world to offer the service after South Korea, the US, China and Spain.

The company says the service can be used almost anywhere debit and credit cards are accepted.

For example, MasterCard sent an official release to e27 and explained, “[we are] is working with major banks, including Citibank, DBS/POSB, OCBC Bank and Standard Chartered, to enable their customers to use their MasterCard credit or debit cards with Samsung Pay”.

Other credit card companies Samsung has partnered with are American Express and Visa, plus banks such as Citibank, DBS/POSB, OCBC Bank and Standard Chartered.

Furthermore, Samsung will be exploring a collaboration with Singtel in regards to the mobile payment space.

Also Read: Forget Apple Pay or Samsung Pay, Hong Kong just implemented a revolutionary payment system

“We are extremely excited that Samsung Pay is now available in Singapore. As the first market in Southeast Asia to roll out our mobile payment service, Singapore will pave the way for the region’s adoption of Samsung Pay,” Samsung President of Electronics Singapore Stephen Suh in an official statement.

However, those with older Samsung phones will not be able to use the service as it is only available on the Samsung Galaxy Note 5, the S6 edge, S7 and the S7 edge.

Merchants are not required to upgrade to contactless terminals because Samsung’s Magnetic Secure Transmission technology enables contactless payment on existing terminals.

The following genre of merchant vendors will be available to offer the payment option:

  • Supermarkets and Convenience Stores
  • Supermarkets and Convenience Stores
  • Departmental Stores
  • Healthcare and Beauty Outlets
  • Food and Beverage Outlets
  • Fashion and Lifestyle Outlets
  • Electronics and Furnishing Stores
  • Travel and Entertainment

Also Read: Following Cisco, Samsung aims to turn Daegu into South Korea’s first major smart city

Rival Apple Pay officially launched in Singapore in late-April and rapidly expanded its service and partners over the month of may. On June 7, the bank UOB reported it had seen swift adoption of the service in the service in the city.

Photo courtesy of Pixabay.

The post Samsung Pay set to launch in Singapore next week; Southeast Asia’s first country appeared first on e27.

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