CAPE TOWN - Absa has announced that it will be working with Samsung South Africa, to soon offer its customers early access to Samsung Pay before the service is commercially launched in South Africa.
What is Samsung Pay?
Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that lets users make payments using compatible phones and other Samsung-produced devices.
How it works:
1. Store your bank card details in the application on a Samsung device,
2. Pay merchants by tapping or ‘swiping’ your smartphone rather than a physical bank card.
The app lets you make payments via Magnetic Secure Transmission, which mimics the magnetic stripe on the back of your card.
It can also use NFC technology in contactless cards for ‘tap-and-go’ payments.
"Early access will be open to all Absa customers in South Africa and will be available on the Samsung Galaxy S9/S9+, Note 8, S8, S8+, S7, S7 Edge, and A8", said Absa in a statement.
It added that support for the Samsung A5/A7 (2017 Edition) will arrive at a later date.
Absa said that selected customers will be invited to join the early access program over the coming days.
According to a report by My Broadband, the bank warned it would never contact them directly via sms or emails (phishing) to register for Samsung Pay using hyperlinks and attachments provided in the sms or email.
The report also stated that Samsung Pay app is live in the Google Play store in South Africa and that Standard Bank will also be a local launch partner.
- BUSINESS REPORT ONLINE