Samsung Pay is a mobile payments service available on compatible Samsung devices including the Gear S3 smartwatch, and Galaxy A5/7, S6/S7/Edge, Galaxy Note 5 and the soon-to-be-released Galaxy S8 and S8+ smartphones.
The partnership with Westpac adds to Samsung’s existing partnerships with Citibank for MasterCard and Visa credit card holders, as well as American Express, issued credit cards.
Richard Fink, vice-president, Mobile Division at Samsung Australia, said, “We know Australians use their smartphones every day to enjoy content, stay connected and organise their lives. Partnering with Westpac will bring the security and convenience of Samsung Pay to millions of Australians.”
Samsung Pay helps to replace physical wallets with Galaxy class smartphones and uses Samsung Knox security, and a mixture of biometrics, fingerprint or iris scans to secure transactions. it uses EMV Tokenisation – a temporary digital token to replace card information. Using a digital token helps keep people’s personal and card information secure.
Samsung iris scan will feature as an authentication method for Samsung Pay on the new Galaxy S8 and S8+ smartphones. It will also support limited transactions without internet connectivity in an offline mode.
Samsung use both Magnetic Secure Transmission (MST) and NFC technology and it now supports entry of payment and loyalty card details into Samsung Pay seamlessly by simply tapping a card onto the back of the Galaxy device.
Samsung Pay is also available in South Korea, US, China, Spain, Singapore, Brazil, Puerto Rico, Russia, Thailand, Malaysia and India. Select users in Sweden, Canada and the UAE can also experience its early access programme following preliminary launches in those countries. It has already partnered with more than 870 banks worldwide.