Samsung Pay is Now Available in China with China Union Pay
Samsung Pay China helps lead the way for the expansion of the mobile payment solution to even more global markets in 2016
Samsung Pay China helps lead the way for the expansion of the mobile payment solution to even more global markets in 2016
SEOUL, Korea – March 29, 2016 – Samsung Electronics Co., Ltd. and China UnionPay (CUP) announced today the launch of Samsung Pay in China. A simple, safe and easy-to-use mobile payment service, Samsung Pay works virtually anywhere you can swipe or tap your card in China. Samsung Pay will enable users to safely manage and use their debit and credit cards on eligible Samsung mobile phones with CUP.
"We are pleased to be partnering with CUP to bring Samsung Pay to China," said Injong Rhee, EVP and Head of R&D, Software and Services of Mobile Communications Business at Samsung Electronics. “The reception of Samsung Pay since its launch has been extremely positive and the service has already seen tremendous success in terms of availability and adoption by consumers. In compliance with national laws and regulations, we ultimately want to make Samsung Pay available to as many consumers as possible, so that everyone in China can have the opportunity to enjoy the simplicity, safety and convenience of our mobile payment solution."
"China UnionPay attaches great importance to the security and innovation of payment. In order to follow the tendency of mobile payment in both China and abroad, CUP cooperates with industry to bring safe and convenient mobile payment experience for millions card holders. With the joint efforts of banks and Samsung, based on the safety testing and certification by relevant national testing agency, CUP QuickPass starting Samsung Pay service will bring users safer and more convenient mobile payment choice." said Hu Ying, Assistant President of UnionPay.
Samsung Pay is currently available on the Samsung Galaxy S7, Galaxy S7 edge, Galaxy S6 edge+ and Galaxy Note5 in China with the opportunity to support additional mid-range models in the future.*
Samsung Pay currently supports select credit and debit cards from nine banks including China CITIC Bank, China Construction Bank, China Everbright Bank, China Guangfa Bank, China Minsheng Banking Corp. Ltd, China Merchants Bank, Hua Xia Bank , Industrial and Commercial Bank of China and Ping An Bank**
Samsung Pay will eventually include future support for select credit and debit cards from six additional banks including Bank of China, Bank of Beijing, Bank of Communications, China Bohai Bank, Industrial Bank and Shanghai Pudong Development Bank. Samsung Pay continues to strategically expand its partnership ecosystem to provide greater flexibility, access, and choice for customers.
To make a payment with Samsung Pay, consumers simply swipe up from Home bottom, scan their fingerprint and pay, which is quite easy and convenient. In terms of security, Samsung Pay has three layers protection, which are fingerprint authentication, tokenization and KNOX. Because of innovative technology, Samsung Pay can be used on both QuickPass POS terminal with NFC and POS terminals without NFC technology, which is more accepted than other similar applications with only NFC technology.
*Availability may vary by country and region.
**Visit http://support-cn.samsung.com/samsungpay/ for the list of partners that support Samsung Pay.
About Samsung Pay
Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and works almost anywhere you can swipe or tap your card. Combining NFC with Samsung`s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience. Samsung Pay is compatible with select cards and Samsung devices, and leading wireless providers. Visit www.samsung.com/pay to learn more.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies that redefine the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. We are also leading in the Internet of Things space with the open platform SmartThings, our broad range of smart devices, and through proactive cross-industry collaboration. We employ 319,000 people across 84 countries with annual sales of US $196 billion. To discover more, and for the latest news, feature articles and press material, please visit the Samsung Newsroom at news.samsung.com.
About China Union Pay
As a bankcard network, China UnionPay operates China`s national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay cards as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders. To date, the total number of the UnionPay Card issued both at home and abroad has been over 5 billion. The UnionPay network has been extended to all the cities and rural areas in China. In addition, UnionPay has enabled UnionPay Card acceptance across 157 countries and regions through extensive cooperation with financial and payment institutions around the world. UnionPay cards can be used in nearly 34 million merchants and over 2 million ATMs. Additional information may be found at: www.unionpay.com
