Money20/20: Samsung Pay Expands Globally via Mastercard and Deals
Samsung Pay is expanding. The mobile wallet early next year will offer the Masterpass online payment service from Mastercard to Samsung Pay users. That comes as Samsung Pay deploys to Malaysia, Russia and Thailand, putting the mobile wallet in 10 countries total, executives said this week at Money 20/20 in Las Vegas.
“By partnering with Masterpass in the U.S. and rolling out online payments globally, we will simplify the online transaction experience by eliminating the need for customers to fill out tedious online checkout forms, remember long passwords or fumble for their wallets,” said Thomas Ko, vice president and global general manager, Samsung Pay.
Additionally, Samsung Pay users starting in November “will be able to locate discounts and coupons for nearby stores and restaurants through the new Deals feature within the Samsung Pay app, and redeem these deals instantly,” the company said.
The Samsung Pay moves come as the company faces ongoing problems with its Galaxy Note 7 phone exploding while charging. At Money 20/20, Haley Kim, Samsung’s director, mobile business team, said the woes revolving around those devices has not impacted Samsung Pay in any measurable way. Samsung has seen “no drop outs for Samsung Pay at all” in the wake of those phone problems, she said
Samsung Pay launched just over a year ago, and Seoul, South Korea-based Samsung Electronics said that some 100 million unique transactions have been made using its m-wallet thus far. Last month, a Samsung spokesman said the latest update to the company’s mobile wallet will include a feature to enable payments via iris scans of consumers’ eyes. For more on the mobile wallet, read our interview with Samsung Pay’s Dan Tuckman in the latest edition of Pay Magazine.