Samsung Galaxy J7 Pro is Now Available in India via Amazon

Claudine Rigal
Août 5, 2017

In a bid to make digital payments more accessible and easier, Samsung's own contactless payment service will now be made available for SBI debit card users. If you're thinking to buy it from the Samsung, you need to pay INR 20,990 ($327 approx).

Samsung Pay will now be available on higher variants of SBI Debit Card as SBI and Samsung India have collaborated to enable SBI Debit Card holders to tap and pay using a Samsung smartphone at merchant outlets having card acceptance machines.

"Bank aims to be the Banker to Digital India and has been at the fore-front of all digital initiatives in the banking space".

According to Rajnish Kumar, managing director at SBI, the bank has 270 million active debit cardholders, of which 130 million cardholders will be immediately eligible to make payments through Samsung Pay.

Samsung Pay supports both NFC and MST (Magnetic Secure Transmission) that allows a user to send a magnetic signal from the smartphone to the payment terminal's card reader.

To drive the adoption of the service, the company has also announced an inaugural cashback offer of up to Rs 500, which will run until August 31.

The platform was first released in India last March and now works on more than 2.5 million PoS card readers across the country. According to the "Digital Payments 2020" report by Google and Boston Consulting Group (BCG), the digital payments sector in India is expected to reach $500 billion by 2020. "We recently introduced Samsung Pay Mini to cater to the unique requirements of mid-segment consumers too", Asim Warsi, Senior Vice President, Mobile Business, Samsung India, said.

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