Samsung Pay Launches In Oz With American Express And Citibank
Samsung’s mobile payment service Samsung Pay is now available in Australia, having today launched with partners American Express and Citibank.
Samsung Pay arrives in Australia following launches in South Korea, the United States, China and Spain.
Starting today, Samsung Pay will be available on compatible Samsung smartphones, including the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge.
Citibank credit card cardholders and American Express issued card members will be able to use Samsung Pay, in conjunction with a compatible Samsung smartphone, at participating retailers.
“Australia is a market of early technology adopters and by providing a platform open to all partners, ranging from government to financial institutions and retailers, while upholding the highest standards of security and data privacy, Samsung is fueling the transition to a truly digital wallet,” Prasad Gokhale, Samsung Australia Mobile Division vice president, commented.
Samsung Pay employs near field communication (NFC) and Samsung’s magnetic secure transmission (MST) proprietary technology.
“The MST technology enables Samsung Pay to support partners that use a traditional magnetic stripe, commonly found on loyalty cards, gift cards and transit cards, both in Australia and across the globe,” Elle Kim, Samsung Pay global vice president, Mobile Communications Business, commented.
“It’s our goal to one day replace wallets, by making every card accessible on Samsung smartphones. In countries like Australia, where customers are already using their smartphones to make payments, our customers will certainly value the benefits of having all their cards in one place and Samsung Pay will provide that convenience to them.”
Samsung Pay employs three different levels for payment security: fingerprint authentication, tokenisation, with each transaction using an encrypted digital token to replace a user’s personal payment information, and Samsung’s Knox security platform.
To pay, users swipe their finger up the screen on their compatible smartphone, choose the desired payment card, authenticate the transaction with the fingerprint sensor and tap the device on the point of sale terminal.
The launch sees Samsung joining the likes of rival Apple in the Australian mobile payments market, as competition within the sector intensifies.
Apple Pay arrived in the local market last year, becoming available for American Express card holders, with ANZ becoming the first major Australian bank to offer Apple Pay in April this year.