Samsung Pay forays into European market via Spain

Samsung has rolled out its secure and simple mobile payments service Samsung Pay in Spain.

Samsung Pay forays into European market via Spain

Samsung Electronics has rolled out its secure and simple mobile payments service Samsung Pay in Spain that also marks its first debut in European market.

Samsung Pay is equipped with three different security levels, including fingerprint identification; tokenization to encrypt card credentials; and mobile security platform Samsung KNOX.

The mobile payment service allows consumers to pay in any location where purchases can be made using a contactless credit or debit card. Samsung Pay is already available in South Korea, the US and China.

NFC-enabled, Samsung Pay can be used through the Samsung Galaxy S7, S7 edge, S6, S6 edge and S6 edge+, with specific availability varying by local operator. The Galaxy A5 2016 will also support Samsung Pay in the coming weeks.

Samsung Pay global director Victor Kim said: “Our goal with Samsung Pay is to drive and lead innovation in mobile commerce, giving consumers a safer, smarter and better mobile wallet.

“Samsung operates an open model of partnership and collaboration to deliver the best possible customer experience. With Samsung Pay, we’re confident that we’re providing Spanish customers with the mobile payments service that they’re looking for.”

Samsung Spain corporate vice president Celestino García said: “The opportunity for Samsung Pay in Spain is significant, due to the high smartphone penetration rate and the digitalization of the banking sector.

“Moreover, according to recent research commissioned by Samsung, nearly six in 10 Spaniards are interested in incorporating a secure, simple and widely accepted payments service like Samsung Pay into their lives.”

Samsung said that the users can also add up to 10 cards to the Samsung Pay application, without incurring additional charges from their banks.

Samsung Pay is already available for customers of CaixaBank and imaginBank, while it will be available for Abanca and Banco Sabadell customers soon.