The service will bring the maker in line with its biggest competitor over at Apple as well as their corresponding Apply Pay platform which launched late last year.
Users with a Samsung Galaxy S6, Note 5 and Galaxy S7 along with an American Express or Citibank card will be eligible to use Samsung Pay by just tapping their device at a pay point.
Samsung may not be the very first to offer this service in Australia but Samsung Pay’s vice president Elle Kim told The Australian that it was more about taking the the time to get the service just right.
“We’ve had engineering teams around the world working to get this ready and getting partners on board to make sure it works,” said Kim.
“We’re launching with Citibank and American Express and that’s easy because they’re already our global partners and it was a faster way to market. We don’t want to compete with banks, we definitely want all partners, and all cards, in. Hopefully it’s a matter of time.”
Kim adds that since Australia isn’t the first market to get this service, it should be free from bugs and other impediments that often come with new software during the initial stages.
The difference between Samsung Pay and Apply Pay is that the former uses NFC (Near Field Communication) and MST (Magnetic Secure Transmission) which is compatible with both contactless terminals and magnetic stripe machines on registers.
One handy feature of Samsung Pay is its capability to operate offline without an internet connection. The technology to accomplish this task was developed by LoopPay, an American startup which Samsung acquired last year.
Future-proofing the technology is also on the cards with the company looking to integrate their service with public transport ticketing systems and mobile drivers’ licences in association with state governments.
Samsung Pay currently operates in the United States, South Korea, China, Spain and Singapore.
[via The Australian]