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Samsung Pay to launch in Taiwan by end of May, Kickstarts Pilot project

By
Akshay
 - 
May 4, 2017

Samsung has been rolling out its Samsung Pay service to more countries at a quicker pace in the last couple of months. Yesterday, Samsung kickstarted its pilot project to start testing the service in Taiwan. This comes just after the recent release of Apple Pay service in the country. Samsung will be partnering with several banks at launch which includes Citibank, Standard Chartered, Cathay United Bank, E.Sun Bank, Taishin International Bank, Taipei Fubon Bank and Union Bank of Taiwan. More banks will be updating on their partnerships with Samsung Pay by the end of May as the expected launch the date for the official launch of the service is May 23, 2017.

 

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Galaxy Note5, GalaxyS8/S8+, GalaxyS7edge/S7, GalaxyA5/A7(2017), GalaxyaA5/A7 (2016) are the devices that are currently compatible with Samsung Pay (while Samsung tries to fix the issues with the Galaxy S6 Edge+). In addition to these, the Tizen-based wearables such as the Gear S2 and the Gear S3 smartwatches are also expected to work with Samsung Pay following a future update in the country. A user can register up to 10 credit cards with the service in their Samsung Pay compatible device.

When the Samsung Pay service is setup in the country, users will be able to make the payments just by bringing their phones near the NFC-enabled POS, at POS where NFC payments isn't available, users can mimic the swipe of a physical card using their phones thanks to the innovative MST (Magnetic Secure Transmission) feature in some of its smartphones for seamless contact-less payments.

Samsung's smartphones were the top sellers in Taiwan back in 2016 with a 22 percent market share according to International Data Corporation (IDC) research report.

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