#SamsungPay set to compete with Snapscan
JOHANNESBURG – Samsung SA has launched their new pay system in South Africa at the Sandton Convention Centre on Tuesday.
The company said that South Africa is the first on the continent to have access to Samsung Pay.
The Company said: "South Africans will be able to enjoy this innovative, safer, simpler payment method that works anywhere."
The tech giant said that they hope to continue to stay true to Samsung’s legacy of innovation, and join the lineage of people-centered technology, allowing users to make secure, simple mobile payments, almost anywhere, when purchasing goods at any store.
Users can simply tap their compatible Samsung Galaxy phone on a payment terminal to complete the transaction.
A limited number of Absa customers will be among the first to enjoy Samsung Pay through the Early Access Program for a limited period before the service commercially launches.
Standard Bank will join the Early Access Programme in due course.
Craige Fleischer, Vice President of Integrated Mobility for Samsung South Africa says, “Once you’ve used Samsung Pay, you’ll wonder how you lived without it. It’s safer and simpler, allowing you to pay anywhere. South Africans will now be able to experience the security and convenience Samsung Pay offers.”
While the ‘tap and pay’ method is not new in South Africa, Samsung Pay uses a proprietary technology called MST (Magnetic Secure Transmission), so you can make contactless payments virtually anywhere and on practically any payment terminal.
Most merchants do not need to upgrade their current payment terminals for Samsung Pay, thus allowing for a smooth and fast purchase process.
Samsung Pay is compatible with the Galaxy Note 9, Note 8, S9, S8, S7 and A8 devices and will be supported on the Galaxy A5 | A7 (2017 Edition) within August.
Other major banks such as Capitec and First National Bank (FNB) are yet to grant access to the service.
- BUSINESS REPORT ONLINE