Samsung Pay Mobile Payment Platform Launched in India; UPI Integration Announced


Posted March 22, 2017 by sonaldeo

UPI helps users transfer money securely & safely. Axis Pay is a Unified Payment Interface (UPI) which helps users transfer money via VPA. Click here for more details about Axis Bank UPI App, Axis Pay
 
Following the start of its Early Access programme earlier this month, Samsung Pay was officially launched in India on Wednesday. The South Korean consumer electronics giant also announced support for American Express cards and as an issuing partner, which had been missing at the Early Access stage. Also new, is Unified Payments Interface Upi access in the Samsung Pay app.

At the launch event in Gurugram, Samsung had invited Amitabh Kant, CEO of NITI Aayog, as the chief guest. He spoke about various government initiatives, including Digital India and Startup India. The company said the introduction of Samsung Pay would help drive the formal economy in India, where currently 86 percent of transactions are done in cash.

The UPI integration in the Samsung Pay app is currently in its beta phase, and will roll out within two weeks, the company says. It is live now however, and the UPI ID assigned to Samsung Pay is @pingpay. Users can create their user ID with username@pingpay to send or request money. The Samsung Pay UPI solution is powered by Axis Bank.

The company says Citibank is forthcoming issuing partner, with its credit cards to be supported in the near future. Also announced was imminent support for company's Gear S3 smartwatch.

Other banks supported since the Early Access include Axis Bank, HDFC Bank, ICICI Bank, SBI, and Standard Chartered. Additionally, Samsung Pay payment solution also lets users pay via Paytm wallet.

With its launch in India, Samsung Pay is fully available in 12 global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.

HC Hong, President and CEO, Samsung Southwest Asia, said, "Samsung Pay is an example of how we continue to push the boundaries of innovations to make life simpler and better for consumers. I am confident Samsung Pay will redefine digital payments and contribute to Digital India."

"Our insights show that convenience, security and acceptance are seen by consumers as the most important influencers when choosing among different digital payment options,” said Mr. Asim Warsi, Senior Vice President, Mobile Business, Samsung India. “With Samsung Pay, we give our consumers the smartest way to make digital transactions by far. Samsung Pay is highly secure through the signature KNOX Platform, fingerprint authentication and tokenization. We have partnered with major banks and card networks to give our consumers the widest range of choices, and are working on bringing more and more partners on board soon."

To recall, Samsung Pay supports both NFC and MST (Magnetic Secure Transmission) that allows a user to send a magnetic signal from smartphone to the payment terminal's card reader. The list of compatible devices for Samsung Pay mobile payment solution includes Samsung Galaxy Note5, Samsung Galaxy S7, Samsung Galaxy S7 Edge, Samsung Galaxy S6 Edge+, Samsung Galaxy A7 (2016), and Samsung Galaxy A5 (2016).

So, how does one get started? First, users will need to register via this page. Then, they'll need to ensure the Samsung Pay app is installed. If users do not see the app in their app drawer, they will need to ensure their device is on the latest software version, then add then Samsung Account ID via Settings > Accounts > Add Samsung Account. They should then see the Samsung Pay app icon, which will enable them to download and install the app.

Samsung Pay app registration is a one-time process, and it can be done with your Samsung Account ID and password. You can register fingerprint by tapping Use Fingerprint and users can also set up Samsung Pay PIN for payment authentication. During setup, users can opt for Skip and Use Samsung Pay PIN on the verification method page. For adding new cards, tap on Add your Debit/Credit Card which by default launches the camera within the app to auto read card details. It can be also done manually.

For adding Paytm, users will have to add Paytm through Wallet option in Samsung Pay. The company recommends using mobile number to link your existing wallet to Samsung Pay. Additionally, users can also add money to their Paytm wallet via Samsung Pay. To add money, users will have to tap on Wallet on the main screen of Samsung Pay app, and then tap on Add to open the add money page. Interestingly, users can make payments using Paytm on Samsung pay irrespective of having the Paytm app on their smartphone.

For making a payment using Samsung Pay at a store, owners of compatible Samsung Galaxy smartphones will need to launch the Samsung Pay app and then select the card they want to pay with by swiping left or right. Users can then authenticate the payment by verifying their fingerprint (or using their Samsung Pay PIN), and then place the phone near the POS machine or card reader or NFC reader to complete the transaction. In case prompted for a PIN, users may be required to input 4-digit card PIN.

Exclusive offers for Samsung Pay users were also detailed. Mastercard users would get 20 percent instant discount on Pizza Hut orders, 15 percent instant discount on Barista orders, and discounts on select combos at Cafe Coffee Day.

Axis Bank users can get up to Rs. 1,000 cashback; HDFC Bank users get 5x reward points on credit cards and 5 percent cashback on debit cards; SBI credit card users get up to Rs. 100 cashback per transaction; Paytm users get up to 100 percent cashback on movie tickets; ICICI Bank users get up to 50 percent cashback on credit and debit card transactions, and Standard Chartered users get up to 20 percent cashback on credit and debit card transactions. Finally, Visa users get complimentary popcorn+beverage combo at INOX Cinemas. Full details of all offers are available on the Samsung Pay India site.

Source: http://gadgets.ndtv.com/apps/news/samsung-pay-mobile-payment-platform-launched-in-india-upi-integration-announced-1672195
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Sonal deo
Website Upi
Country Hungary
Categories Services
Tags unified payment interface , upi app
Last Updated March 22, 2017