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Mobile Payments

Samsung Pay to enable South Koreans deposit money via ATMs

Monday 7 March 2016 | 11:35 AM CET

Samsung Pay will support money deposits via ATMs in South Korea when sales for the Galaxy S7 and S7 Edge begin March 11.

Samsung phones owners that have the mobile payment solution available to them will be able to deposit and withdraw money from machines of Woori Bank, Shinhan Bank, KB Kookmin Bank, Industrial Bank of Korea, as well as NH Nonghyup Bank. They are only required to simply place their phones on the machine readers for each transaction.

Previously, users could only withdraw money from ATMs of Woori Bank.

Samsung is also to expand the online availability of the service. Consumers could use Samsung Card, KB Kookmin Card, and Lotte Card for online purchases previously, but NH Nonghyup Card, BC Card, and Hana Card are to be added.

The source mentions that the South Korean tech giant declined to comment on the global availability of the new features, and said more details will be unveiled after March 11.

The company announced last month that the service hit USD 500 million in transaction in the US and South Korea, and will launch in China this month.

Samsung Pay is to become available on online shopping sites managed by eBay Korea, too.

More: Link