Samsung Pay Launches in Singapore

Samsung Electronics Singapore today announced
that it will be the first in Southeast Asia to make Samsung Pay available
beginning on June 16. Secure and easy-to-use, Samsung Pay can be used to
make purchases almost anywhere1 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.

Comprehensive Ecosystem

Partner Ecosystem

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 Express2,
MasterCard and Visa, and major banks such as Citibank, DBS/POSB, OCBC Bank and
Standard Chartered.

Merchant Ecosystem

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. From launch, customers will
immediately be able to utilize Samsung Pay at most merchants3within the following categories [full list of
preferred merchants in Appendix B 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

More
Than a Payment Service

A secure and easy-to-use mobile
payment service, Samsung Pay can be used to make purchases almost anywhere that
credit and debit cards are accepted.

·         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 Security4, 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 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 above $100.

The Galaxy Experience

Samsung Pay is an example of how Samsung continues to push
the boundaries of hardware, software and services to create devices that are
designed to improve how consumers connect, share, organize and get more out of
life. The company is redefining what is possible, beyond the limits of today’s
technology, by introducing a constellation of seamless mobile experiences to
bring added flexibility and convenience to
consumers’ lives.

Samsung Pay will be available on the
Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+ beginning on June
16 in Singapore.

1Availability almost anywhere is based on
compatibility of Samsung Pay on MST and/or NFC payment terminals, with some
supported for use only after software upgrades. Samsung Pay is exclusive to selected Samsung Galaxy smartphones
only, and available across all participating payment networks, banks, and
merchants. Availability may vary, please check www.samsung.com/sg/samsungpay for updates.

2Coming soon

3Subject
to changes

4“Mobile
Device Security: A Comparison of Platforms”, Gartner, Inc. (6 April
2016)