MasterCard to connect Europe to Samsung Pay

MasterCard to connect Europe to Samsung Pay

Samsung has struck a deal with MasterCard to connect European card issuers to the handset manufacturer's forthcoming mobile payments service.

Under the agreement, European banks will be able to connect to the MasterCard Digital Enablement Service platform and activate the Samsung Pay service upon launch.

Much like Apple Pay - which made it debut in the UK last month - consumers will be able to activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service and use their mobile devices to make purchases at contactless and magstripe terminals across the continent.

Earlier this year, MasterCard announced it would provide the tokenisation services to Samsung Pay for its secure transactions.

Samsung Pay is scheduled to launch in the US and South Korea later this summer. The firm says it is currently in discussiion with banks and merchants across the continent to bring the payment service to Europe soon after.

Comments: (2)

A Finextra member
A Finextra member 30 July, 2015, 18:08Be the first to give this comment the thumbs up 0 likes

So Samsung wants its own service just like APPL, instead of opting into a Google service that is generic to Android devices.  We will probably see a MFST device wallet too.  Maybe someday users will care about phone wallets. Right now, there seems to be very little added value provided by these wallets. But, maybe someday there will be.

As stated above, "Much like Apple Pay - which made it debut in the UK last month - consumers will be able to activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service and use their mobile devices to make purchases at contactless and magstripe terminals across the continent."  Very me too. But, maybe someday a "SMART WALLET", where the device will know there at Starbuck's I need my Starbuck's Card and pre-select it for me, and likewise, for other cards.

Balasubramaniam Gd
Balasubramaniam Gd - DBS - singapore 31 July, 2015, 07:36Be the first to give this comment the thumbs up 0 likes

I am concerned from the robustness of the Android inherint vulnerablity to malware attacks and trojan software that dominate consumer phones. Security / Encryption / Reliablity / Fraud are key issues

Featured Job
All Jobs »