Samsung Pay is a relatively new payment platform which is consistently growing to become a formidable global force in electronic payment. So far, it is used worldwide and has proven to be seamless, safe and fast. For a long time, India has been waiting for this payment platform to support more banks considering the fact that Samsung is the most popular smartphone brand in India. Now, Samsung through an update has added Kotak Mahindra Bank credit and debit cards to support Samsung pay. This update also includes bug fixes, stability improvements, and speed optimizations.
Last month, MasterCard credit cards issued by one of the largest independent financial institutions in India, YES Bank, became compatible with this payment platform. Kotak Mahindra Bank cardholders will have to be patient because updates usually take some time (a few days) to get to individual smartphones. But once it arrives, you will be able to add your card.
Samsung Pay works wherever you have Near Field Communication (NFC) or with Samsung’s patented Magnetic Secure Transmission (MST) technology and because MST at PoS terminals is quite common in India, Samsung Pay should work at most of the sales centers you will visit. MST works as an alternative to NFC for card terminals that do not have an active NFC. This allows Samsung Pay to function almost anywhere cards are accepted. Shoppers can securely pay for their purchases using their Samsung smartphone or smartwatch.
For now, Samsung Pay is supported on the Galaxy Galaxy S8, Galaxy S8 +, Galaxy S7 Edge, Galaxy S7, Galaxy S6 Edge+. Others include the Galaxy S6, S6 Edge (NFC only), Galaxy Note 5, Galaxy A7 (2017), A5 (2017), A3 (2017), Galaxy A7 (2016), A5 (2016), Galaxy J7 (2017) and Galaxy J5 (2017). Samsung Pay is also available on the Tizen running Samsung Gear S2 and Gear S3 Classic and Frontier since April this year, but they are not supported in India at the moment. The Smartwatches don’t only support contactless payment but can also be used where contactless cards are not supported. Apart from fees that may be charged by partner banks where available, Samsung doesn’t charge anything for the use of the Samsung Pay payment platform.