South Korean electronics giant Samsung has launched its mobile payments service Samsung Pay in Mexico – its third market in Latin America after Brazil and Puerto Rico.
The digital payment service will allow users to make payment at almost anywhere contactless payments are accepted.
It supports both NFC and MST technologies. MST technology enables merchants to accept Samsung Pay even if they do not have NFC terminals. The merchants can use their traditional credit card machines to process Samsung Pay transactions.
To use Samsung Pay, a user needs to swipe up on an eligible Samsung Galaxy smartphone, select the card, authenticate using a fingerprint or PIN and tap the smartphone near the POS terminal. It does not store card details on devices but on a digital token.
In Mexico, the service is currently supported by American Express, Banorte, BanRegio, and HSBC bank.
Samsung Pay service is already available in more than 20 countries across the globe including South Korea, the US, China, Spain, Australia, Singapore, Russia, Canada, India, Sweden, Switzerland, Hong Kong, the UK, Taiwan, and Vietnam.