Last week Samsung launched its mobile payment service Samsung Pay in Thailand.
The service, which had been available at as part of an ‘early access’ release since October 2016, is now available nationwide.
The launch is in line with the Thai government’s national e-payment strategy and will play a key role in its plans to transform Thailand into a cashless society.
At its official launch at the Thailand Mobile Expo in Bangkok, the Korean tech giant said it aims add one million users to Samsung Pay in 2017.
Here’s what you need to about Samsung Pay in Thailand
What is Samsung Pay?
Think of Samsung’s mobile payment system as a kind of digital wallet. Instead of handing over cash or your credit card to the cashier, you simply tap your Samsung smartphone on the card terminal and you’re done.
How does it work?
Samsung Pay is actually very convenient as it works on the same machines you would normally use to swipe your credit card.
It works at any place that can accept credit card payments and can do this because it uses the same Magnetic Secure Transmission (MST) used on a card terminal, which emits a magnetic signal that replicates your card being swiped on the credit card machine.
As well as that it also works with Near Field Communication (NFC), which means you can just tap your phone on an NFC terminal and that’s it, payment is done.
Is it easy to use?
It actually couldn’t be easier. All you have to do is launch the Samsung Pay app from your smartphone, authenticate your account by either scanning your finger or entering a passcode and then just tap your phone on the card terminal. It’s as easy that.
It is secure?
It’s more secure than a regular credit card which can be cloned or used fraudulently. That fact that you have to authenticate each payment with a scan of your finger or by entering a passcode gives you that added layer of security. Regarding your card or bank details, Samsung doesn’t actually hold any of your payment info.
Instead, it uses an encrypted digital token to protect any sensitive card or account information. On top of that Samsung KNOX helps to protect you from any malicious software or activity on your phone.
Can I use Samsung Pay on my smartphone?
To use Samsung Pay in Thailand you will need one of the following Samsung smartphones:
– Galaxy Note 5
– Galaxy S6 Edge+
– Galaxy S7
– Galaxy S7 Edge
– Galaxy A5 (2016)
– Galaxy A7 (2016)
– Galaxy A3 (2017)
– Galaxy A5 (2017)
– Galaxy A3 (2017)
You will also need to add your card details to the Samsung Pay app which should already be installed on your smartphone or can be downloaded from the Google Play Store. You can add up to 10 cards to be used with Samsung Pay.
Do all banks in Thailand support Samsung Pay?
Samsung says its has partnered with Visa, MasterCard, Bangkok Bank, Citibank, Kasikornbank, Krungsri, KTC Credit Card and Siam Commercial Bank.
These banks represent 70 per cent of credit card users in Thailand currently, but Samsung has said it will eventually work for 90 percent of credit card holders in Thailand.
In January, Samsung announced that Samsung Pay will be available on all Android smartphones in the South Korea by April, with people familiar with the matter predicting it will begin a global roll out by the end of the year.