Samsung Electronics and China UnionPay (CUP), the biggest card issuer in China, announced the launch of Samsung Pay in China.
Samsung's mobile payment service, works virtually anywhere you can swipe or tap your card in China. Samsung Pay will enable users to manage and use their debit and credit cards on on the Samsung Galaxy S7, Galaxy S7 edge, Galaxy S6 edge+ and Galaxy Note5 phones.
Samsung Pay currently supports select credit and debit cards from nine banks including China CITIC Bank, China Construction Bank, China Everbright Bank, China Guangfa Bank, China Minsheng Banking Corp. Ltd, China Merchants Bank, Hua Xia Bank , Industrial and Commercial Bank of China and Ping An Bank.
Samsung Pay will eventually include future support for select credit and debit cards from six additional banks including Bank of China, Bank of Beijing, Bank of Communications, China Bohai Bank, Industrial Bank and Shanghai Pudong Development Bank.
To make a payment with Samsung Pay, consumers swipe up from Home bottom whether the phone screen is locked, going black or in home screen, scan their fingerprint and pay. In term of safety, Samsung Pay has three layers protection, which are fingerprint authentication, tokenization and KNOX. Samsung Pay can be used on both QuickPass POS terminal with NFC and more POS terminals without NFC technology, which is more accepted than other similar applications with only NFC technology.
Samsung's attempt to advance into the well-established mobile wallet market in China is a challenge as China's local services such as AlyPay and WeChat are already covering online shopping, tax services and others. Samsung will also have to compete with Apple, which launched its own Apple Pay system last month - also in partnership with Union Pay.