Samsung Pay now available in Australia
SAMSUNG Pay is now available in Australia - but only if you have a Citibank or American Express card.
Samsung Pay will be available on the Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge, with specific availability varying by local operator.
Prasad Gokhale, Vice President, Mobile Division, Samsung Australia said the service offered a safer and more convenient way for Australians to pay for products.
"It's the next development for Australians who use their smartphone as the central device to live, organise and enjoy their lives,'' Mr Gohkale said.
"Australia is a market of early technology adopters and by providing a platform open to all partners, ranging from government to financial institutions and retailers, while upholding the highest standards of security and data privacy,
The arrival of Samsung Pay in Australia follows successful launches in South Korea, the United States, China and Spain.
It also follows the launch of Apple Pay in Australia, whose partners include the ANZ Bank.
At launch, Samsung Pay partners in Australia will be American Express and Citibank.
However, the company says it is in talks with the big four banks and hopes to have deals in place soon.
Unlike Apple, Samsung doesn't demand a cut of the payment for providing the service.
American Express says the the addition of Samsung Pay means that 90% of its card members who already use their smartphones can now make mobile payments.
As an exclusive launch offer, American Express Card Members who use Samsung Pay three times on any purchase over $5 will receive a one-off $15 statement credit, available until 14 September 2016.
Outside of payments, Samsung Pay has the potential to be integrated with an array of partners, ranging from major retailers to government departments and ticketing companies.
Samsung says partner integration is even simpler with Samsung Pay because the technology utilises Near Field Communication (NFC) and Samsung's proprietary technology called Magnetic Secure Transmission (MST), making it the only payment solution with wider acceptance.
The MST technology uses a traditional magnetic stripe, commonly found on loyalty cards, gift cards and transit cards, both in Australia and across the globe.
Samsung Pay includes three levels of security to help enable secure payments - fingerprint authentication, tokenisation and Samsung KNOX.
Each transaction uses an encrypted digital token to replace a user's personal payment information and payments can only be authorised with an approved fingerprint or PIN.
Samsung's industry-leading KNOX security platform also monitors malicious software and activities on a user's device for added security and protection.
To make a payment on Samsung Pay, simply swipe up, choose the desired payment card, authenticate the transaction with the fingerprint sensor and tap the device on the point of sale terminal.