Samsung launches Samsung Pay in South Africa

August 22, 2018 • Finance, Southern Africa, Top stories

Samsung launches Samsung Pay in South Africa

Samsung launches Samsung Pay in South Africa.

Samsung Electronics has announced the launch of its mobile payment service Samsung Pay in South Africa. Samsung Pay enables users to make mobile payments almost anywhere using both MST and NFC technology.

With Samsung's Samsung Logox security platform and biometric authentication through iris or fingerprint scanning, users can rest assured that their personal payment information is secure. Tokenisation also ensures that the actual card information of a user is never displayed during a transaction, making each payment more secure.

In South Africa, Samsung Pay is currently available to Absa and Standard Bank customers with supported Mastercard and Visa payment cards. Avios credit cards, British Airways credit cards and Virgin Money cards are also supported. Samsung Pay also supports the ability to load loyalty cards, so it's not just about spending money; it also allows a seamless collection of points or miles.

"Samsung Pay works almost everywhere where you can swipe, insert or tap on a map, so as the first country in Africa to implement this, we are extremely excited about how it will transform the lives of our customers," says Craige Fleischer, Vice President of Integrated Mobility for Samsung South Africa. "Samsung Pay is committed to boost the mobility of mobile wallets in Africa, and this launch promotes Samsung's commitment to provide innovative services to consumers everywhere." Adds Fleischer.

Although cash may not be dead and cards still dominate the payment landscape, the world of contactless payments evolves faster than ever before. The way consumers pay is changing faster than any part of the financial services, influenced by rapid changes in digital technology, competitive forces and consumer needs.

Tshipi Alexander, head of Consumer Issue at Absa Retail and Business Banking, says: "Making a payment has become so much more than just doing a transaction and is now also about the experience, so many of the developments in financial technology that we have In recent years, when it comes to making the buying process faster and easier, the arrival of Samsung Pay gives Absa customers even more choice on how to make payments, allowing them to make simple, fast and very secure payments. with their Samsung phone when purchasing goods from most retailers at both contactless and non-contact terminals where they are currently using their Absa cards – without ever taking their card out of their wallets, "

Ethel Nyembe, Standard Bank SA, head of the card editor, said: "We want to ensure that Standard Bank's payment solutions are preferred for digital experiences – whether they are traditional cards, virtual cards, tap to pay or Samsung Pay. Customers keep their plastic cards, but we make sure that people who want to go beyond traditional payment methods can now participate in an exciting mobile payment world that grows every day. "

In order to use Samsung Pay, Samsung users must upgrade to the latest software version for their eligible Samsung Galaxy smartphone and simply download the Samsung Pay app from the Google Play Store, register or login to their Samsung account, a Select the preferred method for authentication by fingerprint, iris scan or pin code, scan a debit, credit or check card with the camera and check the card data.

To make payments, the user simply launches the Samsung Pay app by swiping up, authenticating with his iris, fingerprint or PIN code from the home screen or lock screen and then holding or holding his Samsung device close to the payment terminal. Because Samsung Pay works on both magnetic secured transmissions (MST) and near-field communication (NFC) sales outlets, vendors do not have to adapt their current point-of-sale machines to this groundbreaking technology.

Mark Elliott, division director at Mastercard, South Africa, said: "We have been a pioneer in mobile commerce innovation for years and we are excited to work with Samsung on new, frictionless payment options for consumers, who in turn contribute the accelerated introduction of digital technology payments in South Africa Every Samsung Pay transaction with Mastercard is extremely secure A crucial part of this is our ability to symbolize cardholder data, where a & # 39; token & # 39; card number is provided to the shop, where both consumers and retailers offer all security benefits and guarantees of a transaction made with a physical card. "

Geraldine Mitchley, head of digital solutions for Visa in Sub Sahara Africa, said: "We are delighted to expand the mobile payment options for Visa cardholders in South Africa. which is further enhanced by the security of Visa Token service technology and which allows safe and convenient contactless payments in the store with their Samsung mobile, since the number of smartphone users in South Africa is expected to exceed 25 million by 2022, we see that the phone is the only item that people always carry with them and Visa supports payment solutions that fit the changing lifestyle of people. "

Edited by Fundisiwe Maseko
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