Samsung partners with Mastercard to bring Samsung Pay in Europe

Samsung-Pay

Samsung and Mastercard announced today that they are extending their partnership which will allow the former to bring Samsung Pay to Europe.

Samsung is taking advantage of the latter’s MasterCard Digital Enablement Service to easily deploy its mobile payment service in Europe. Mastercard is already providing Samsung with its tokenisation service in the US to allow partner banks to easily add support for Samsung Pay.

“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,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet.”

Samsung Pay is scheduled to launch in the US and South Korea later this summer. As for Europe, owners of Samsung Galaxy S6, S6 edge and other high-end upcoming devices from the company which support the payment service will have to wait for a bit longer as Samsung is still in talks with European banks and partners regarding its payment service.

Unlike Apple Pay, Samsung’s mobile payment service works with MagSafe as well as NFC equipped Point of Sale terminals. This feature alone gives Samsung Pay a key advantage over other competing mobile payment services. However, since the service is yet to launch, it is unknown how well it works in real life.

[Via Samsung Tomorrow]

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