Mobile Payment Service ‘Samsung Pay’ Officially Launched In India

Posted on:23 Mar 2017 09:50:12
Mobile Payment Service ‘Samsung Pay’ Officially Launched In India
23 March 2017 Current Affairs: Samsung Electronics officially launched the mobile payment service, Samsung Pay in India on March 22, 2017.

With this, Samsung becomes the first company to launch a mobile payment service in India, ahead of Apple Pay or Android Pay. 

The first commercial transaction of the new payments service in India was carried out in the presence of NITI Aayog CEO Amitabh Kant and Samsung Southwest Asia President and CEO HC Hong.

Samsung has tied up with several banks and payment gateways in India like ICICI Bank, HDFC Bank, SBI, Standard Chartered, Citi Bank, and American Express for the payment service. v. Its network partners are American Express, Visa, and MasterCard, while Pine Labs is the Acceptance partner for PoS machines.

 Samsung has also tied up with mobile wallet Paytm for payments and will also add UPI based payment soon.

However, initially the service is still limited to a select few Galaxy smartphones and will be rolled out to other devices soon. 

Samsung Pay is a highly secure platform as it works with three levels of security like fingerprint authentication, card tokenization and Samsung’s defense­grade mobile security platform, Samsung KNOX. 
Samsung Electronics officially launched the mobile payment service, Samsung Pay in India on March 22, 2017.

With this, Samsung becomes the first company to launch a mobile payment service in India, ahead of Apple Pay or Android Pay. 

The first commercial transaction of the new payments service in India was carried out in the presence of NITI Aayog CEO Amitabh Kant and Samsung Southwest Asia President and CEO HC Hong.

Samsung has tied up with several banks and payment gateways in India like ICICI Bank, HDFC Bank, SBI, Standard Chartered, Citi Bank, and American Express for the payment service. v. Its network partners are American Express, Visa, and MasterCard, while Pine Labs is the Acceptance partner for PoS machines.

 Samsung has also tied up with mobile wallet Paytm for payments and will also add UPI based payment soon.

However, initially the service is still limited to a select few Galaxy smartphones and will be rolled out to other devices soon. 

Samsung Pay is a highly secure platform as it works with three levels of security like fingerprint authentication, card tokenization and Samsung’s defense­grade mobile security platform, Samsung KNOX. 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 October

21 OCTOBER
NEWS
20 OCTOBER
NEWS
19 OCTOBER
NEWS
18 OCTOBER
NEWS

Current Affairs 2018 September

30 SEPTEMBER
NEWS
29 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS