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Samsung Pay to be launched in Singapore on June 16

Xinhua, June 10, 2016 Adjust font size:

Following the launch of Apple Pay in April, South Korean electronics giant Samsung announced on Friday that it will launch its mobile payment service Samsung Pay in Singapore on Jun 16.

Singapore is the fifth country to have Samsung Pay in the world after South Korea, the United States, China and Spain.

With the service, Samsung mobile users can place an order with their registered cards on Samsung's smartphones with Near-Field Communication (NFC) wireless technology.

Apart from MasterCard and Visa, credit cards from banks such as DBS, OCBC, Standard Chartered and Citibank, will be part of the service, while American Express is expected to be accepted at a later date, according to local media.

"We are excited to bring this service to Singapore consumers and we hope to introduce value-added services to drive and lead innovation in mobile commerce," said Thomas Ko, vice president and global general manager of Samsung Pay.

"Digital wallets have seen the fastest uptake among consumers in Singapore with a four-fold increase, compared to a year before," said Deborah Heng, group head and general manager, MasterCard Singapore.

"The availability of Samsung Pay will see consumers tapping Singapore's comprehensive contactless payment infrastructure to make purchases simply, swiftly and safely, a phenomena that is only set to grow as Singapore's digitally savvy population become increasingly receptive to using mobile payments for all purchases."

In terms of personal information security, the electronics giant said that each transaction uses an encrypted digital token to replace user's personal payment information and payments, and the information can only be authorised with approved fingerprint or PIN. Endit