Samsung Pay is a new payment platform which was introduced by Samsung two years ago to facilitate payment for goods and services. The growth and development of Samsung Pay have extended to countries such India, UK, Australia, Russia, UAE, etc. Last month, 38 more Australian banks were added to the Samsung Pay platform which increased the supporting banks to 41. Now even more banks and cards have been added to support this payment system. It appears that the Australians are really having a good time with Samsung Pay platform thus the rapid spread of Samsung Pay in the country.
Samsung Pay is about a year in Australia and ANZ Visa debit customers with a Galaxy S8, S8+ phone (or the Gear S3 smartwatch) can now use this new, easy, fast and secure payment system. The new inclusion is not limited to ANZ customers, a lot of other new banks and credit unions are also now compatible with Samsung Pay.
Richard Fink, Vice President, IT & Mobile Division at Samsung Electronics Australia said
"ANZ customers can now benefit from Samsung Pay's unique features, such as our three-layered security system, and can enjoy using the service anywhere you can pay with a contactless credit or debit card"
The addition of ANZ brings the number of payment card brands compatible with Samsung Pay in Australia up to 76, with over 870 global banks. Cuscal, Westpac, Citibank and American Express also announced that it now supports Samsung Pay. Below is a comprehensive list of the new and existing banks/cards/financial institutions that support Samsung Pay in Australia.
New banks/financial institutions:
List of existing eligible banks:
As a reminder, Samsung Pay utilizes Near Field Communications (NFC) just like other payment platforms. This enables a secured transmission of card information to the retailers. Samsung also uses Magnetic Secure Transmission (MST) because some retailers do not have NFC in their system. MST works as an alternative to NFC for card terminals who do not have an active NFC. This allows Samsung Pay to function almost anywhere cards are accepted.