Samsung Pay in currently live in Korea, US, China, Spain, Singapore, Australia, Puerto Rico and Brazil.
According to Tech Central, the company’s South African director for integrated mobility said at the Johannesburg launch of the new Galaxy Note7 smartphone that Samsung Pay should be launched to local users in the first quarter of 2017. Payment standards have to be developed and formalised with “various” South African “organisations” before it is brought to market.
Samsung’s experience in other markets suggests the company needs to launch with at least 65% to 70% coverage, according to the company’s representative, not only in terms of point-of-sale terminals that support the technology, but also bank customers that are able to take advantage of it.
The service allows people to tap and go to make purchases at a point of sale using near-field communication (NFC) technology as well as at normal chip-and-Pin or magnetic swipe terminals using a technology known as magnetic secure transmission (MST).
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