MasterCard to connect Europe to Samsung Pay
30 July 2015 | 13441 views | 2
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.