Samsung Pay is a secure and simple mobile payment service that works anywhere. Payment for goods or services can be made with a credit or debit card using this system. Most recently, Samsung Pay is now functional with RAKBANK, Sberbank, HBSC, First Direct and M&S Bank. Spanish Banco Santander is now the most recent bank to join the Samsung Pay platform. This is coming over a month after its British counterpart (Santander UK) joined the system.
Spain is the first country in Europe to introduce this service over a year ago, following successful launches in South Korea, the United States, and China. Samsung Pay is the first mobile payment service of its kind to be launched in the Spanish market and 75 percent of payment terminals in the country now use this service.
Starting from June 27, Spain’s Banco Santander customers will be able to use Samsung Pay for their mobile payments. Since the launch of Samsung Pay in Spain, banks such has CaixaBank, imaginBank, Banco Sabadell and Abanca have been using this mobile payment system which is compatible with the contactless technology. To get started, Santander customers have to activate their debit or credit cards on any compatible Samsung device. As of now, the compatible devices are Galaxy S8, Galaxy S8+, Galaxy S7, Galaxy S7 edge, Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy A5 2016 and 2017 models. Santander has almost 2000 ATMs from which its customers will be able to withdraw cash and activate other transactions using Samsung Pay.
With the launch of Samsung Pay for Santander's customers, there is now more competition for Apple Pay and Bizum mobile payment platform which has been available to customers in Spain. It is expected that Samsung Pay will extend to other banks in Spain as well as other countries of the world considering its high rate of expansion so far and its global acceptability.