Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia's largest banks and its largest general insurance group.
Samsung Pay is Samsung's answer to a digital payments platform. As of now, it is compatible with select Samsung Devices. Samsung Pay is competing against Apple Pay, Android Pay, Fitbit Pay and other mobile payment systems for its share in the market. Samsung has been quite successful with partnering with major card companies like Visa and Mastercard and various banks worldwide.
However, only Samsung supports the MST (Magnetic Strip) payment system for older swipe machines. Initial feedback from all is that the main use is for “convenient” purchases like coffee or lunch.
Suncorp is taking its first step into the world of digital payment with the induction of Samsung Pay. Brush Rush, Suncorp's executive general manager for Deposits and Investments, has overseen the introduction.
Rush said: “As we move to an increasingly cashless society, we know that our customers need more efficient and sophisticated technology, including digital wallets. From 27 September, all customers with a Suncorp Clear Options Credit Card, and compatible Samsung device will have the option to use Samsung Pay. We will continue to invest in our payment technologies and are committed to delivering new services that our customers want and need.”
According to Samsung, Samsung Pay is secure and easy-to-use mobile payments service available on compatible Samsung devices. With this partnership, Australians can use it to make purchases almost anywhere cards are accepted.
Samsung Pay service can be used only by Suncorp Clear Options Credit Card cardholders. However, this does not include Suncorp debit cards. Mark Hodgson, head of Mobile Payments at Samsung Electronics Australia, said: “Suncorp and Samsung are committed to improving customer experience through innovation. In addition, Suncorp Clear Options Credit Card cardholders 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.”
ƒAs of today, Samsung Pay can be used by the cardholders of Westpac and 38 other banks and credit card unions. Samsung Pay was launched in Australia on 15 June 2016. Samsung continues to strategically expand its ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.
Samsung Pay is currently available on select Galaxy devices including the new Galaxy S7 and S7 edge, S6 edge+, Note5 as well as premium and mid-range options like the 2016 models of the Galaxy A5, A7, and A9. The only Tizen based devices that can currently use the payment service are the Samsung Gear S2, Gear S3 and the upcoming Gear Sport.