Samsung Pay launches in Singapore

Samsung Electronics Singapore announced that it will be the first in Southeast Asia to make Samsung Pay available beginning on 16th June. Secure and easy-to-use, Samsung Pay can be used to make purchases almost anywhere that debit cards or credit cards are accepted. In fact, Samsung Pay is the only mobile wallet that allows users to pay with their compatible Samsung smartphones at terminals that accept contactless payment as well as those that do not accept contactless payment.

“Since the introduction of Samsung Pay last year, we have seen great momentum and experienced significant consumer adoption. Samsung Pay has redefined the way consumers pay and use their smartphones,” said Thomas Ko, Vice President and Global Co-General Manager of Samsung Pay at Samsung Electronics. “We are excited to bring this service to Singapore consumers and we hope to introduce value-added services to drive and lead innovation in mobile commerce, giving consumers a safer, smarter and better mobile wallet.”

“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,” said Stephen Suh, President, Samsung Electronics Singapore.

Added Mr. Suh: “We have established extensive partnerships with card networks, issuers and merchants for Samsung Pay to be readily available almost anywhere for consumers in Singapore, so that everyone can have the opportunity to enjoy the simplicity, safety and convenience of the mobile payment service. By supporting both contactless and non contactless payment, we are confident that this benefit will help to drive consumer adoption for Samsung Pay. What’s more, you can transact any value on Samsung Pay, up to the amount of your credit card limit.”

Samsung Pay is continually expanding its partnership ecosystem to provide greater flexibility, access and choice for customers in Singapore. Currently, Samsung Pay has partnered with major payment networks such as American Express3, MasterCard and Visa, and major banks such as Citibank, DBS/POSB, OCBC Bank and Standard Chartered.

Additionally, Samsung and Singtel will be exploring potential collaborations in the mobile payment space.

At launch, Samsung Pay will be accepted at the vast majority of merchants, wherever MasterCard or Visa is accepted, and is not limited to merchants that have updated to contactless terminals. Singapore consumers will be able to use Samsung Pay at their favorite popular chains, as well as thousands of independent shops. For merchants that have not yet updated to contactless terminals, Samsung Pay’s proprietary MST (Magnetic Secure Transmission) technology enables contactless payment on existing merchant terminals.

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