Samsung Pay honored as Best Payment Service by Russia’s ‘Banking Review’ and grabs "Financial Sphere" award

Apr 6, 2017

Leading Russian banking media ‘Banking Review’ awards a “Financial sphere” award in the “Payment service” category every year which recognizes banks and companies without a banking license, that have announced and released a financial product that achieved significant results in the market within a year or more. Samsung's innovative Payment Service- Samsung Pay has grabbed the aforementioned Financial sphere award at the sixth "Financial Sphere" Award ceremony held on March 30, 2017 in Moscow for its acheivements in the Russian Market.

Samsung Pay was launched in Russia back in September 29th, 2016 and since then, the service has become very popular in the country thanks to its safe and convenient transaction process. According to reports, Samsung Pay is currently accepted almost everywhere in Russia, where it is possible to proceed a payment via a bank card that uses a contact-less technology or a magnetic strip. As of the date of writing this post, Samsung Pay is supported for Mastercard card holders from lfa-Bank, BINBANK, VTB24, MTS and MTS Bank, Bank Otkrytie, Raiffeisenbank, Roketbank, Russian Standard Bank, Sberbank, Tinkoff Bank, Tochka and Yandex.Money. Visa cards of Alfa-Bank, VTB24, MTS Bank, Raiffeisenbank and Tinkoff are also supported at the moment.

Seif El Hakim, Head of Mobile Marketing in Russia, received the award from the organizers and was quoted saying-

"On behalf of Samsung Electronics, I thank everyone who voted for Samsung Pay. From the very first day, we in Samsung believed in future success of the Samsung Pay on the Russian market. Our partners and their professionalism and support played an important role in launching the project in the shortest possible time, – said Seif El Hakim, Head of Mobile Marketing in Russia. – We won’t stop at this and plan to expand the Samsung Pay network to connect every bank in Russia to Samsung’s service”.

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