Thomas Ko, Samsung Pay

Thomas Ko, Samsung Pay

Samsung Electronics will roll out Samsung Pay in Brazil tomorrow (19 July), the first market in South America to introduce its mobile payment service.

The service will launch with “major issuers” including Banco do Brasil, Brasil Pré-Pagos, Caixa, Porto Seguro and Santander. Additionally, Samsung says it is working with other bank partners including Banrisul, Bradesco, Nubank and Itaú-Unibanco, to make the service available to more consumers in Brazil.

Thomas Ko, vice president and global co-general manager of Samsung Pay at Samsung Electronics, says: “We are always exploring creative technologies and use cases to provide consumers with an immersive and holistic mobile wallet experience.”

Brazil joins South Korea, the United States, China, Spain, Singapore, Australia and Puerto Rico in the list of “priority markets” to launch the mobile payment service.

Samsung also cites research conducted by Febraban (the Federation of Brazilian Banks), that shows mobile banking usage is on the rise in Brazil. Febraban says usage increased by 138% in 2015 with more than 11 billion bank transactions through smartphones, compared to 4.7 billion transactions in 2014.

@banking
techno