Samsung Pay China goes live
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Samsung Pay China is live after being launched by the South Korean smartphone giant this week.
Samsung Electronics said Tuesday the introduction of the Samsung Pay China mobile payment service will speed its efforts to expand the scope of its flagship mobile payment platform globally.
The South Korean tech company said Chinese users of high-end Galaxy smartphones can now use Samsung Pay in cooperation with China-based bank card giant UnionPay.
The mobile platform supports magnetic secure transmission technology that works on traditional credit card machines. Like rivals Apple Pay and Android Pay, it also supports near field communication technology that requires a separate transaction device.
Users of UnionPay debit and credit cards can now use Samsung Pay-equipped smartphones to make purchases, including the Galaxy S7 and Galaxy S7 Edge just released earlier this month.
Samsung Pay joined forces with nine major Chinese banks, while six more partners will be added in the near future, Samsung added.
Samsung said it will also make efforts to roll out more devices that support its mobile payment platform.
Samsung Pay, first released in South Korea and the US last year, currently boasts around 5 million users. Samsung said last month it is also preparing to launch in Australia, Brazil, Spain and a handful of other countries.
Questions & Answers
Q.Which specific mobile payment technologies does Samsung Pay China support?
Which specific mobile payment technologies does Samsung Pay China support?
The platform supports both magnetic secure transmission technology, which works with traditional credit card machines, and near field communication technology, requiring a separate transaction device. This dual support provides flexibility for users.
Q.Which specific Chinese financial institution is partnering with Samsung Pay for its launch?
Which specific Chinese financial institution is partnering with Samsung Pay for its launch?
Samsung Pay China is operating in cooperation with UnionPay, the China-based bank card giant. This partnership allows users of UnionPay debit and credit cards to make purchases with compatible Samsung smartphones.
Q.When was Samsung Pay first introduced in other markets?
When was Samsung Pay first introduced in other markets?
Samsung Pay was initially released in South Korea and the US last year. The service currently has approximately 5 million users globally, and Samsung is planning further international expansion.
Q.Which new Samsung phone models are compatible with Samsung Pay China?
Which new Samsung phone models are compatible with Samsung Pay China?
The recently released Galaxy S7 and Galaxy S7 Edge are among the high-end Galaxy smartphones that support Samsung Pay in China. Samsung also plans to roll out more devices compatible with its mobile payment platform.
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