Tech giant Samsung has joined forces with China UnionPay to bring its mobile payment platform Samsung Pay to UnionPay cardholders in China.
The partnership will allow UnionPay cardholders in China to manage as well as use both credit and debit cards on Samsung smartphones through Samsung Pay.
The service is expected to be launched for UnionPay cardholders in China by early 2016, following necessary tests and certification by Chinese regulators.
Cardholders can make payments through Samsung Pay by swiping up and scanning their fingerprint. It addresses security concerns by offering triple-layered security that includes fingerprint identification, tokenization and KNOX. Moreover, contactless payment on this mobile platform is accepted in majority of the country’s POS terminals such as QuickPass-enabled NFC POS terminals.
Samsung executive vice president InJong Rhee commented: "With technological innovation, Samsung Pay expands the usage of mobile payment. It simplifies the procedure for better user experience, and adopts multi-layered protection to ensure security, allowing easier and safer mobile payment experience.
"The collaboration with China UnionPay, coupled with the support from major UnionPay partner banks in China, will bring this secure and easy-to-use mobile payment solution to more Samsung mobile users."
China UnionPay executive vice president Chai Hongfeng said: "This cooperation between China UnionPay and Samsung will combine the strengths of the former in payment and the expertise of the latter in mobile terminals to jointly create brand new mobile payment experience for consumers, and to further expand the user base of UnionPay QuickPass brand."