Electronic payment methods do seem to be catching on these days, although there is still plenty of work that needs to be done in this department. Both MasterCard and Samsung Electronics have decide to “invade” Europe by extending their global partnership. This next level in their co-operation on a global scale will leverage the MasterCard Digital Enablement Service (MDES) so that Samsung Pay can see action over in Europe.
Just to refresh our memories, Samsung Pay happens to be a mobile payment service which will allow consumers to make use of their Samsung flagship mobile devices in order to perform every day in-store purchases through contactless and mag stripe terminals that make use of NFC and MST technologies.
Card issuers can hook up to the MDES platform and activate the Samsung Pay service when it is launched, and cardholders from participating issuers are able to activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service.
Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay, shared, “Samsung Pay is pleased to join forces with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard cardholders and issuers in Europe. Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet.”
Do you think that such a method of payment will encourage more impulse purchases in the long run? We do know that there is a new smartwatch with a limited version of Samsung Pay arriving next month, and if you would like to make use of Samsung Pay, make sure you do not root your device. [Press Release]