Samsung Pay is a payment platform designed by Samsung to enable its customers to easily pay for goods and services. This payment platform is quite popular and we recently reported that three banks in the UK and Sberbank in Russia have started working with this payment platform. Now, Samsung Pay solutions for ATMs have been introduced in the Middle East. In conjunction with Samsung Gulf Electronics, RAKBANK became the first bank in the Middle East to introduce Samsung Pay solutions for ATMs. This means that customers of RAKBANK no longer need their debit or credit cards to make withdrawals from RAKBANK ATM as they can do so with their Samsung smartphones.
RAKBANK CEO, Peter England, said
"RAKBANK has a rich history of innovation where the bank has managed to transform the concept of digital banking in the UAE through a host of award-winning digital solutions such as the revamped Digital Banking Platform, MobileCash, Tablet Banking, and Web Chat authentication services. Staying true to our prominent position as an innovative and dynamic player, we now extend our Samsung Pay solution to ATMs and create an end-to-end contactless process for our customers. Currently, RAKBANK is taking a phased-out approach and shall begin by targeting ATMs that have strong footfall in locations such Dragon Mart 2, Wafi Mall, and City Centre Me’aisem. Soon, customers will be able to use Samsung Pay solutions on most of the bank’s ATM network."
By this association, RAKBANK is giving its customers an effective, secure, convenient, and easy-to-use digital solution to cash withdrawals from RAKBANK ATMs without their cards. Samsung Pay solution for ATMs is a service that is considered as a "Mobile Revolution". The Samsung Pay platform has diffused into many countries and more devices are becoming compatible with this platform. It is expected that the Samsung Pay solution for ATMs will be introduced to more banks in the Middle East as well as other banks in different countries of the world