MasterCard is working with major banks, including Citibank, DBS/POSB, OCBC Bank and Standard Chartered, to enable their customers to use their MasterCard credit or debit cards with Samsung Pay.
Starting June 16th 2016, consumers can make a payment on Samsung Pay by swiping up on their compatible Samsung smartphone to bring up the last transacted MasterCard credit or debit card, scan their fingerprint and make payment. Samsung Pay is available on selected Galaxy devices including Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+.
Security is enabled with fingerprint authentication, tokenisation and Samsung KNOX. Each transaction uses an encrypted digital token to replace user’s personal payment information and payments can only be authorised with approved fingerprint or PIN.
MasterCard contactless payments are accepted in 77 countries and more than five million merchant locations worldwide.
Singapore is the first market in Southeast Asia to roll out Samsung Pay.
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