After Apple Pay, Samsung Pay takes its turn to expand its frontiers. This time, the mobile wallet is coming to Singapore and will launch as early as the second quarter of this year. The services will be available in retail stores, a day after its rival, Apple Pay, launches in the country.
Singapore is a potential market and represents the first country to get the service by the South Korean company. Samsung Pay will collaborate with major payment networks such as Visa and MarketCard, and other banks including OCBC Bank, DBS/POSB and Standard Chartered to launch its service.
According to EVP and Head of R&D Injong Rhee, “We are extremely excited that Singapore is the first market in Southeast Asia to roll out Samsung Pay. Singapore’s connectivity and openness are ideal conditions for our new mobile service to thrive, together with the interest and readiness of consumers here in adopting this new method of payment.”
GSM Arena states Samsung pay is currently available in countries like South Korea, US and China. The following Samsung devices support the payment service right now:
- Galaxy Note 5
- Galaxy S6 edge+
- Galaxy S7
- Galaxy S7 Edge
The tech giant recently announced in a report that about 71 percent of Samsung users will adopt the mobile service once it becomes available. Currently, Apple Pay is accessible only by American Express card holders in Singapore. On the other hand, Samsung Pay is now available as an online payment service for train and bus fares since the end of March.
Today, the use of mobile payment service has become quite popular. This has been proved by Gartner research director Manjunath Bhat who told in an interview to the Straits Time last month that a very small percentage of Singaporean consumers are willing to add mobile payment feature to their mobile. 23 percent of Singaporeans use mobile wallet for making small transactions, reports Tech Crunch.
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