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Samsung Pay to be available this year in Singapore

SINGAPORE — When Samsung Pay comes to Singapore later this year, DBS, OCBC Bank and Standard Chartered Bank will be among the banks here offering the payment solution.

Samsung Pay to be available this year in Singapore

Samsung Pay will be coming to Singapore later this year. Photo: AP

SINGAPORE — When Samsung Pay comes to Singapore later this year, DBS, OCBC Bank and Standard Chartered Bank will be among the banks here offering the payment solution.  

Samsung is also partnering with American Express, MasterCard and Visa, to bring Samsung Pay to Singapore consumers in 2016.

Samsung Pay is a service that allows consumers to pay for goods at retail locations using their Samsung smartphones. On Saturday (Feb 20), the South Korean tech giant announced it had reached a milestone with about five million registered users who processed over 500 million dollars in the first six months of its launch. It said in a media statement that strong adoption rates can be seen in South Korea and the US, where the service was launched last year in August and September respectively.

In a press statement on Monday (Feb 22), DBS Bank's head of cards and unsecured loans, Mr Anthony Seow, said: “As Singapore consumers move towards using more cashless payments, our priority is to introduce a comprehensive suite of mobile banking solutions to our customers.” 

“DBS’ partnership with Samsung Pay represents the next wave in card payment solutions, allowing DBS consumers to effectively use their smartphones as their credit and debit cards without compromising on security.”

An American Express spokesperson said: “We leverage our unique technology and capabilities to provide our customers around the world with seamless, differentiated experiences, giving them more flexibility and choice for how to pay. As part of that strategy, we are excited to work with Samsung on the expansion of Samsung Pay for our card members in Singapore. “

Samsung recently announced that its rollout of Samsung Pay this year will begin in China in March. The cashless payment system will be launched in Australia, Brazil, Singapore, Spain and the United Kingdom later this year. Canada has also been added to the new launch roadmap. No specific dates were given.

Samsung Pay is available on selected Samsung Galaxy devices including the newly launched S7, S7 edge, S6, S6 edge, S6 edge+, Note5 as well as premium and mid-range options such as the 2016 models of both Galaxy A5 and A7, according to a Samsung press statement on Feb 20.

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