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Samsung Pay Launched in India: Partner Banks, How to Use, ing Smartphones, and More

Samsung Pay Launched in India: Partner Banks, How to Use, ing Smartphones, and More 151v5m

By Gadgets 360 Staff | Updated: 22 March 2017 15:39 IST

Highlights

UPI integration facilitates peer-to-peer money transfers
Samsung Pay UPI integration is powered by Axis Bank
While in its beta phase, UPI can be access via the app now

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Samsung Pay mobile payments platform has been officially launched in India, weeks after the company Samsung Pay India launch event, NITI Aayog CEO Amitabh Kant said the solution will help drive the formal economy in India, where 86 percent of the transactions are still done using cash. Compared to the Early Access programme, Samsung Pay at its formal launch s American Express cards. 5h411b

To recall, Samsung Pay s both NFC and MST (Magnetic Secure Transmission) that allows a to send a magnetic signal from smartphone to the payment terminal's card reader.

Samsung Pay partner banks and UPI integration 676613

Partner banks for Samsung Pay at launch include Axis Bank, HDFC Bank, ICICI Bank, SBI, Standard Chartered, and American Express. Citibank will become an issuing partner soon, with its credit cards set to ed in the near future. As mentioned above, Samsung Pay s can link their Paytm Wallet to the service.

Samsung Pay UPI integration is currently in its beta phase, and will roll out within two weeks, the company says. It is live now, however, and the UPI ID assigned to Samsung Pay is @pingpay. s can create their ID with name@pingpay to send or request money. The Samsung Pay UPI solution is powered by Axis Bank.

Also announced at the event was imminent for company's Gear S3 smartwatch.

With Samsung Pay India launch, the solution is fully available in 12 global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.

HC Hong, President and CEO, Samsung Southwest Asia, said, "Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India."

"Our insights show that convenience, security and acceptance are seen by consumers as the most important influencers when choosing among different digital payment options,” said Mr. Asim Warsi, Senior Vice President, Mobile Business, Samsung India. “With Samsung Pay, we give our consumers the smartest way to make digital transactions by far. Samsung Pay is highly secure through the signature KNOX Platform, fingerprint authentication and tokenization. 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."

Samsung Pay ing smartphones 6c6s57

The list of compatible devices for Samsung Pay mobile payment solution includes Samsung Galaxy A5 (2016).

How to use Samsung Pay 1i325q

So, how to get started with Samsung Pay? First, s will need to via this page. Then, they'll need to ensure the Samsung Pay app is installed. If s do not see the app in their app drawer, they will need to ensure their device is on the latest software version, then add then Samsung ID via Settings > s > Add Samsung . They should then see the Samsung Pay app icon, which will enable them to and install the app.

How to set up Samsung Pay 19336e

Samsung Pay app registration is a one-time process, and it can be done with your Samsung ID and . You can fingerprint by tapping Use Fingerprint and s can also set up Samsung Pay PIN for payment authentication. During setup, s can opt for Skip and Use Samsung Pay PIN on the verification method page. For adding new cards, tap on Add your Debit/Credit Card which by default launches the camera within the app to auto read card details. It can be also done manually.

To add Paytm, s will have to add Paytm through Wallet option in Samsung Pay. The company recommends using mobile number to link your existing wallet to Samsung Pay. Additionally, s can also add money to their Paytm wallet via Samsung Pay. To add money, s will have to tap on Wallet on the main screen of Samsung Pay app, and then tap on Add to open the add money page. Interestingly, s can make payments using Paytm on Samsung pay irrespective of having the Paytm app on their smartphone.

For making a payment using Samsung Pay at a store, owners of compatible Samsung Galaxy smartphones will need to launch the Samsung Pay app and then select the card they want to pay with by swiping left or right. s can then authenticate the payment by ing their fingerprint (or using their Samsung Pay PIN), and then place the phone near the POS machine or card reader or NFC reader to complete the transaction. In case prompted for a PIN, s may be required to input 4-digit card PIN.

Samsung Pay India launch offers 6q4z1k

Exclusive offers for Samsung Pay s were also detailed. Mastercard s would get 20 percent instant discount on Pizza Hut orders, 15 percent instant discount on Barista orders, and discounts on select combos at Cafe Coffee Day.

Axis Bank s can get up to Rs. 1,000 cashback; HDFC Bank s get 5x reward points on credit cards and 5 percent cashback on debit cards; SBI credit card s get up to Rs. 100 cashback per transaction; Paytm s get up to 100 percent cashback on movie tickets; ICICI Bank s get up to 50 percent cashback on credit and debit card transactions, and Standard Chartered s get up to 20 percent cashback on credit and debit card transactions. Finally, Visa s get complimentary popcorn+beverage combo at INOX Cinemas. Full details of all offers are available on the Samsung Pay India site.

Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.

Written with inputs from IANS

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