MSwipe, one of the PoS (Point of Sales) machines merchant in India, has today announced that all its terminals across India will now support Samsung Pay. With this partnership, Samsung Pay can now be used across 200,000 MSwipe terminals in India which will significantly increase its presence since its launch.
Launched in March 2017, Samsung Pay is digital payment method which uses NFC and Biometrics to make a payment just by touching your device with the PoS machine. Besides, it also supports Magnetic Secure Transmission (MST) which is where MSwipe comes into the picture as most of the PoS machines in India operate on MST. Before making the payment, customers need to set up their debit or credit card once and can then make payments simply through their device. As the name suggests, Samsung Pay is limited to some selected Samsung devices only including the latest Samsung Galaxy S8, S8+, Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy S7, Galaxy S7 Edge, Galaxy Note 5, Galaxy A5 (2016), Galaxy A7 (2016) and Galaxy A7(2017).
Manish Patel, Founder and CEO, Mswipe said in a statement – “Payment technology is evolving rapidly and Samsung Pay is a great example of how innovation will continue to make digital payment more convenient and desirable for customers. At Mswipe, we have anticipated this and built terminals that are future-ready so that our merchants can accept payments seamlessly, even when there is a technology shift”.
Meanwhile, for the banks, Samsung has partnered with the likes of Axis Bank, HDFC Bank, ICICI Bank, SBI Cards, Standard Chartered Bank and Citibank and payment gateways, Visa, MasterCard and American Express. In other words, you will need to have a debit or credit card of above-mentioned banks from either Visa, MasterCard or American Express.