Samsung Pay
Samsung's mobile payment platform could be the first mobile payment platform to launch in our country. Although Apple Pay and Android Pay had already been officially launched, neither of these mobile payment platforms was available in Spain at that time. Samsung Pay It was already operational in the United States and South Korea, and its arrival in the United Kingdom and Spain had been announced. Subsequently, Samsung confirmed its rollout in Spainmaking our country the first in Europe with an active service, backed by a extensive ecosystem of alliances with financial institutions, large retail outlets and the Madrid Chamber of Commerce to promote its adoption among SMEs and small businesses.
Among the highlighted benefits, the company emphasizes a use Safety y simpleand compatibility almost universal wherever NFC-enabled POS terminals exist. The service supports major international payment networks (Visa, Mastercard, American Express, and China UnionPay) and is compatible with the third-party platform Alipay in specific markets. In Spain, acceptance is focused on Contactless POSwhile MST technology is reserved for other countries.
- Insurance: fingerprint identification, credential tokenization, and protection with Samsung Knox.
- Simple: swipe, choose card, authenticate and pay.
- Almost universal: valid at any store with an active NFC POS terminal.
No release date yet
However, there is still no official release date; instead, the platform will launch within an estimated timeframe for all these countries. When exactly will it launch? At one point, there was speculation about a debut alongside a new Galaxy SThis rumor is understandable given the commercial boost it represents. Over time, Spain confirmed its position as the leading European country with the operational service, in parallel with the progress towards United Kingdom, Australia, China, Singapore and BrazilThus, Samsung's deployment plan was consolidated in phases, prioritizing markets with high smartphone penetration and digital banking.
Samsung Pay, Samsung's mobile payment platform, is compatible with Samsung's high-end smartphones, and it appears that this year it could also be compatible with smartphones from [unspecified companies/brands]. Midrange and the company's entry-level range. It has even been claimed that the platform It could become compatible with smartphones from other companies.However, this is unlikely to be the case until a post-phaseThis would be an incentive to buy a Samsung smartphone, especially considering the evolution of alternatives. However, it remains to be seen when the Samsung Pay mobile payment platform will be officially launched in Spain, although its availability was confirmed after the official announcement.
Advantages, safety and cost
One of the strong points is that there are no commissions From Samsung: the download is free and the user pays their bank's standard terms and conditions. For retailers, There are no additional costs. beyond having an NFC POS terminal, which facilitates adoption in small businesses and chains.
Security relies on fingerprint or PIN, tokenization which replaces the PAN with an encrypted token, and Samsung Knox as a layer of defense for the device. If the phone is lost, access to the cards remains protected by authentication. Furthermore, it is possible pay without coverage and with very low battery, keeping the operation within safe limits. The user can add up to 10 cards compatible.
Banks, networks and retailers at the launch
The service was initially operational for customers of CaixaBank and imaginBank, and its subsequent availability was announced for Abanca y Banco SabadellThey joined the wearables ecosystem later. Banco Santander y Openbank For use on watches, expanding options. On payment networks, Samsung Pay works with Visa, Mastercard, American Express and China UnionPayand maintains integration with Alipay in certain markets.
In retail, the company collaborated with major brands to boost profits and customer loyalty: El Corte Inglés (first private issuer to integrate its card), VIPS, Smart VIPs, ginos, Fridays, Starbucks, Domino's Pizza, 100 Montaditos, The Southern, day group, MediaMarkt, Mercadona, Phone House, Repsol, Cepsa, Knee, Saba, The Good Burger, The WokAmong others, in addition to its presence in institutions such as the Prado MuseumThis approach was reinforced by the Madrid Chamber of Commerce to accelerate adoption in SMEs.
Usage on mobile phones and wearables
The procedure is straightforward: the user swipes up to display their cards, chooses the one they want, authentic with fingerprint or PIN and hold your phone near the contactless POS terminal. In Spain, transactions are carried out by NFCIn other countries, the technology MST It allows additional compatibility with magnetic stripe terminals.
With Galaxy Watch and other compatible watches, simply register the card in the watch, enter a PIN on first payment and bring the wrist close to the reader. Users receive a notification after each transaction. Globally, Samsung Pay has surpassed the barrier of one billion payments and is present in multiple countries across five continents, reflecting its maturity and adoption.
In Spain, the acceptance of card payments is very high, and studies cited by Samsung show that a majority of consumers He uses cards for most of his purchases.with a growing interest in secure and convenient mobile solutions. With banking partnerships, a presence in large chains, and a focus on small businesses, Samsung Pay It positions itself as a solid option for integrating digital payments into the user's daily life.
