Samsung has partnered up with MasterCard to bring Samsung Pay to Europe; both companies are leveraging the MasterCard Digital Enablement Service (MDES) to roll-out Samsung Pay to European countries.
Samsung Pay is a mobile payment system which entails users using their flagship Samsung phones such as the Samsung Galaxy S6, Galaxy S6 Edge and upcoming Galaxy Note 5 to make in-store payments at contactless and magnetic strip payment terminals using NFC and MST Technologies.
Making use of MasterCard’s MDES platform, card issuers would be able to connect to the platform and thus activate Samsung Pay service upon launch. Cardholders would be able to activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service and will be able to use their card to make purchases.
“Samsung Pay is pleased to join forces with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard cardholders and issuers in Europe of Samsung Pay. Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet.”
Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay said.
Samsung Pay has been announced for the US and South Korea but will launch later this summer. There is no launch timeframe yet for the payment service in Europe but the South Korean company is already working with Banks and partners to deliver the service in the region.
Source: Samsung
