Maybank joins up with Samsung Pay
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Singapore’s Maybank has joined the Samsung Pay bandwagon to help meet its goal of strengthening its digital presence across the region.
Launched in partnership with Samsung Electronics Singapore, the deployment will enable customers to use their Maybank credit and debit cards to perform transactions at most point‐of‐sale (POS) terminals in Singapore.
This mobile wallet deployment is expected to bring greater payment convenience to Maybank’s Singapore customers.
In conjunction with the launch, Maybank Singapore will be offering special promotions for its customers including cash rebates, lucky draws and 1‐for‐1 promotions.
CEO, Maybank Singapore, Datuk Lim Hong Tat said this partnership with Samsung forms part of Maybank’s digital roadmap for its regional operations, with Singapore being the first ASEAN market to launch Samsung Pay.
Group Chief Strategy Officer of Maybank Michael Foong, said, “Over 40% of our customers in Singapore are now transacting using their Maybank Singapore contactless credit cards, and cardholders here can now use this Samsung Pay facility virtually anywhere in the world 1 where credit or debit cards are accepted.”
The launch of Samsung Pay in Singapore follows the bank’s introduction of its mobile wallet in Malaysia last month, and will be followed by the progressive roll‐out of other digital initiatives across the region.
Other past initiatives include the launch of mobile banking apps with augmented reality in some regional markets, biometric authentication, cardless withdrawals, “e‐ang pows” for festive gifts and even hackathon events for the tech community.
Questions & Answers
Q.Which specific Maybank customers will be able to use Samsung Pay following this partnership?
Which specific Maybank customers will be able to use Samsung Pay following this partnership?
The deployment enables Maybank's Singapore customers to use their credit and debit cards with Samsung Pay. They can perform transactions at most point-of-sale terminals in Singapore, bringing greater payment convenience to them.
Q.What is Maybank's broader strategy behind launching Samsung Pay in Singapore?
What is Maybank's broader strategy behind launching Samsung Pay in Singapore?
This partnership is part of Maybank's digital roadmap for its regional operations, aligning with its goal of strengthening its digital presence across the region. Singapore is the first ASEAN market for this launch.
Q.Does the article mention any specific customer incentives related to the Samsung Pay launch?
Does the article mention any specific customer incentives related to the Samsung Pay launch?
Yes, Maybank Singapore will be offering special promotions for its customers. These include cash rebates, lucky draws, and 1-for-1 promotions in conjunction with the launch of Samsung Pay.
Q.Have Maybank customers in other regions already had access to a mobile wallet from the bank?
Have Maybank customers in other regions already had access to a mobile wallet from the bank?
Yes, Maybank introduced its mobile wallet in Malaysia last month. The Singapore launch of Samsung Pay follows this, indicating a progressive roll-out of digital initiatives across the region.