Smartphone Payments
The Samsung Pay mobile payment service of Samsung Electronics is expected to make its debut in Europe before the end of this year.
According to industry sources, Samsung Electronics and MasterCard recently agreed to enhance their partnership for the purpose of launching the service in Europe. The idea is to make it available in all European countries as soon as possible. It is said that European credit card issuers are planning to provide the Samsung Pay service by linking it to the MasterCard Digital Enablement Service (MDES). The MDES, which is a platform allowing MasterCards to be used on smart devices, has provided token services for millions of MasterCard accounts since 2013 so that they can be used as mobile wallets.
At present, Samsung Pay is being tested in Korea. It is planned to be released in Korea and the United States this summer. Visa Card has joined Samsung Electronics as a partner for the service in the U.S. market.
Galaxy S6 and Galaxy S6 Edge users can use the service now. The Galaxy Note 5 and the Galaxy S6 Edge Plus, which are scheduled to make their debut in New York next month, come with Samsung Pay, too. Samsung Electronics is planning to increase the number of Samsung Pay users around the world to at least 17 million by 2020.