Samsung Pay Goes Live in Singapore

Samsung Electronics Singapore announced the availability of Samsung Pay for use in Singapore, beginning today. Available on the Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+, the secure and easy-to-use mobile payment service can be used to make purchases almost anywhere1 that debit cards or credit cards are accepted. Samsung Pay users can now use their credit cards from Citibank, as well as debit cards or credit cards from DBS/POSB, OCBC Bank and Standard Chartered to make transactions at terminals that accept contactless payments as well as those that do not accept contactless payment with their compatible Samsung smartphones.

Starting from today, ongoing promotions will also be held at selected merchants such as AmorePacific and Watsons, applicable to purchases made in-stores using Samsung Pay. Samsung Pay is accepted at the vast majority of merchants in Singapore, wherever MasterCard or Visa is accepted, and is not limited to merchants that have updated to contactless terminals. Featuring close to 40 preferred merchants at launch, Singapore consumers will be able to use Samsung Pay at most merchants2 within the following categories [Full list of preferred merchants in Appendix A as attached]:

·         Supermarkets and Convenience Stores

·         Departmental Stores

·         Healthcare and Beauty Outlets

·         Food and Beverage Outlets

·         Fashion and Lifestyle Outlets

·         Electronics and Furnishing Stores

·         Travel and Entertainment

Ahead of Samsung Pay’s launch in Singapore, an open beta test for the mobile payment service was held, in which thousands of participants were invited to be among the first to preview Samsung Pay in Singapore. With participants being able to use the secure and easy-to-use mobile payment service to make purchases almost anywhere1 during the beta testing phase, Samsung received encouraging feedback and positive responses from participants. Initial feedback and data collated from the beta testing also enabled Samsung to fine-tune the service further ahead of launch to ensure a smoother experience for consumers.

·         SIMPLE: With Samsung Pay, every transaction is made super easy. You simply need to swipe up to bring up the last transacted credit or debit card, scan your fingerprint or key in your PIN and make payment.

·         SAFE: With each separate transaction, Samsung Pay uses an encrypted digital token to replace sensitive card information to prevent fraud. Your payment information is better protected than ever before. Transactions made on Samsung Pay require registered fingerprint or PIN for authorization, so you are in control when each payment is made. The encrypted fingerprint information is stored in a separate, secure area of your device. Samsung’s industry-leading KNOX security platform, which received the most “Strong” ratings of any mobile security platform for Corporate Managed Security3, provides real-time kernel protection and monitors malicious software and activities on your device for added security.

·         ALMOST ANYWHERE1: Samsung Pay is accepted almost anywhere you can swipe or tap your credit or debit card. By incorporating Samsung’s proprietary MST (Magnetic Secure Transmission) technology, together with NFC (Near Field Communication), Samsung Pay will be compatible with the majority of existing and new payment terminals, allowing users to pay with their compatible Samsung smartphone almost anywhere. Thanks to MST, Singapore users can also use Samsung Pay for transactions up to their individual cards’ limit.