With a presumably successful “early access” program in its rearview mirror, Samsung Pay is today finally, fully ready to tackle one of the most important mobile markets around the world. In a way, India could be deemed the single biggest country this fast-growing digital wallet service has so far entered, considering the local absence and shaky prospects of both Apple Pay and Android Pay.
Remember, Samsung’s tap and pay solution is the only one of the three to support Magnetic Secure Transmission (MST) technology in addition to Near Field Communication (NFC) functionality, meaning it’s accepted at a “majority” of Point of Sale terminals in India, many of which lack the former feature.
Unfortunately, the extremely budget-conscious smartphone-using masses there will need to wait a little while longer until Samsung Pay expands to select lower-end Galaxy devices, possibly even including some without fingerprint sensors.
For the time being, the money app works on the Galaxy S7, S7 Edge, Note 5, S6 Edge+, A5 (2016), A7 (2016), A5 (2017) and A7 (2017), with the backing of quite a few “issuers and card networks.” These include Visa, MasterCard, American Express, Axis Bank, HDFC, ICICI, SBI Cards and Standard Chartered Bank, while Citibank India is set to join the party “shortly.”
Samsung Pay also integrates Paytm services and the government’s Unified Payments Interface straight off the bat, looking dead serious about consolidating its regional smartphone domination.