Samsung Electronics is set to launch its mobile payment service Samsung Pay in Brazil, making it the first country in South America to get the service.
The service, to be formally launched on 19 July 2016, will be supported by major banks including Banco do Brasil, Brasil Pré-Pagos, Caixa, Porto Seguro, and Santander.
To make the service available to more consumers in Brazil, the South Korean tech giant is also working with other bank partners including Banrisul, Bradesco, Nubank and Itaú-Unibanco.
Samsung Pay allows users to pay with their compatible Samsung smartphones at point of sale terminals, thanks to both MST (Magnetic Secure Transmission) and NFC technologies.
The service is also equipped with three different security levels, including fingerprint identification; tokenisation to encrypt card credentials; and mobile security platform Samsung KNOX.
Brazil joins South Korea, the United States, China, Spain, Singapore, Australia and Puerto Rico in the list of priority markets to launch the mobile payment service.
Thomas Ko, vice president and global co-general manager of Samsung Pay at Samsung Electronics, said: “Samsung Pay reinforces the company’s focus to bring value to both consumers and partners by bringing innovative services to your smartphones. We are always exploring creative technologies and use cases to provide consumers with an immersive and holistic mobile wallet experience.”