Maybank comes on board for Samsung Pay in Singapore

Samsung
Electronics Singapore today announced its partnership with Maybank
Singapore for Samsung Pay, the secure and easy-to-use mobile payment
service that can be used to make purchases almost anywhere. Beginning 31
August, Maybank Credit or Debit Cardmembers will be able to make transactions
at merchant locations across Singapore using Samsung Pay on their compatible
Samsung smartphones. The new partnership boosts Samsung Pay’s comprehensive
partner portfolio of major payment networks and banks, building on its
commitment to provide greater flexibility, access and choice for customers in
Singapore.

With
the new addition to the ecosystem of partners across payment networks, banks,
retailers and merchants, Samsung will be able to leverage on Maybank’s extensive
customer base to promote the adoption and usage of mobile payments in
Singapore. Maybank Cardmembers can also reap greater benefits from being able
to rely on their digital wallets, to pay on the go at anywhere they are,
whenever they want. Samsung Pay is available on the Samsung Galaxy Note7, S7
edge 4G+, S7 4G+, S6 edge+ 4G+ and Note 5 4G+, and is 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.

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 iris or 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 iris scan or PIN for
authorization, so you are in control when each payment is made. The encrypted
fingerprint and iris scan information are 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 Security, provides real-time kernel protection and monitors
malicious software and activities on your device for added security.

·         ALMOST ANYWHERE: 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 is 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.