News

Samsung Pay expands into mobile banking

Monday 11 December 2017 13:07 CET | News

Samsung Electronics has announced that its mobile payment system is expanding into the banking sector.

Starting from Thursday, the 14th November, the payment system installed on some of the company’s newer smartphones can be used to carry out transactions at some Korean local banks. Due to this upgrade, the 9 million Samsung Pay users, who can now use their phones like cash or credit cards, as well as at ATMs, will be able to withdraw or send money from accounts in Shinhan and Woori banks. This can be done by downloading a dedicated app on their smartphones.

The payment system is currently being offered only with phones like the V30, the company announcing that it plans to incorporate the feature into mid-range phones starting next year.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Samsung Pay, mobile banking, ATM, Shinhan, Woori, Korea
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech