South Korean Electronic Giant Samsung is planning to launch Samsung Pay in India soon. After facing huge losses because of Galaxy S7 explosions, the company is making its moves very cautiously.
According to the earlier reports, Samsung wanted to launch its payment platform in the month of January 2017 itself. But due to some issues, it didn’t happen.
But as far as now the tech giant is working very hard to launch its pay interface in India. Post Demonetization in India there’s a massive push for cashless and digital transactions.
To cash this situation many online payment services and platforms are implementing new strategies.So Samsung also working to launch its Samsung pay as early as possible. A message to Samsung users while upgrading their devices Android 7.0 flashing that “The future of payments is coming soon.”
Samsung with its massive user base can give tough competition to other existing payment gateways like Paytm, Mobkwik, FreeCharge and others.The major advantage for Samsung is that Indians are not interested in Global Payment Platforms like Android Pay or Apple Pay.
According to the sources, Samsung has Collaborated with American Express for its launch. The South Korean company is also in talks with MasterCard and Visa.It is said that during the initial phase the Samsung pay might be limited to the Galaxy devices.
Another added advantage of Samsung is its MST technology which is commonly used payment technology in the urban parts of India. Samsung is on a plan to launch another payment service known as the Pay Mini. The Only difference is that Samsung Pay Mini is restricted to payment for online services.