A few days back, Samsung started early registration for the Samsung Pay app and now the company has finally launched this app in India. Samsung has partnered with Visa, MasterCard and American Express for enabling the payment gateway. In addition to this, Samsung Pay app supports Axis Bank, ICICI Bank, SBI Cards, HDFC Bank and Standard Chartered Bank Cards. Support for Citibank India will soon be enabled in the app.
Currently, the Samsung Pay app is supported by Samsung Galaxy range which includes Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5(2016), Galaxy A7 (2016), Galaxy A5 (2017 and Galaxy A7 (2017).
How To Register For Samsung Pay?
- All the eligible users will get a notification for software upgrade
- Install the upgraded software
- Tap on the Samsung Pay app
- For registering, first register your Samsung account
- If you have an already existing account then tap sign in
- Register your fingerprint/ PIN for payment authentication
- After this, the user will be asked for card registration (debit/credit)
- Card registration is a one-time activity and a user can register maximum up to 10 cards
- Use camera to auto read the card details, which opens automatically within the app
- Enter the OTP for registration
How To Use Samsung Pay?
- Swipe up on an eligible Samsung Galaxy Smartphone
- Select the card
- The app will ask for authentication through either fingerprint or PIN
- Put the phone near the Point of Sale Terminal
Apart from the Galaxy smartphone range, the Samsung Pay app will be also available on Samsung Gear S3 Smartwatch soon. The app also comes with Paytm integration through which you can also scan the QR codes securely, generating one-time codes for merchant payment and also do peer to peer money transfers. In addition to this, the app also supports Unified Payments Interface but, an update for UPI is awaited.
Samsung Pay works with Samsung’s patented Magnetic Secure Transmission (MST) technology and Near Field Communication (NFC). The card swipe is replicated by wirelessly transmitting magnetic waves from the supported Samsung devices to standard card reader. The use of MST allows Samsung Pay to work with a range of Point Of Sale terminals in India. The security measures in the app are ensured by fingerprint/pin authentication, card tokenization and Samsung’s security platform Samsung KNOX.
With already a huge user base, let’s see how the new app in the digital payments segment performs where some of the other tech giants have already made strong market share.