Russian lender Sberbank and Samsung Electronics have signed an agreement under which the Sberbank customers with MasterCard-branded cards can use Samsung Pay to carry out safe payments.
The payment service allows users to pay with their compatible Samsung device by tapping against the MST (Magnetic Secure Transmission) and NFC technologies.
Samsung Pay works with Samsung Galaxy S7 and S7 edge, S6 edge+, Galaxy Note5, Galaxy A5 (2016) and A7 (2016).
The payment service is now available with seven major banks including Alfa Bank, VTB 24, MTS, Reiffeisen Bank, Russian Standard Bank and Yandex.
Samsung Mobile Russia head Arkadij Grad said: “Since September 28, Samsung Pay has provided our Russian users with a simple and secure payment method that can be used almost anywhere they can swipe or tap their payment cards.
“We’re delighted to announce the availability of Samsung Pay for Sberbank customers. With this partnership, Samsung Pay now covers 65 percent of all private bank accounts in Russia and 80 percent of the country’s urban population.”
Sberbank Board deputy chairman Alexander Torbakhov said: “Very soon credit cards will become a relic of the past. Smartphones and smart watches, that let users pay for purchases quickly and safely are to replace cards.
“Now Sberbank customers can use a convenient Samsung Pay service and make payments with a single touch of the smartphone, almost anywhere payment cards are accepted.”