Mastercard enables Samsung Pay roll out in UAE
06 April 2017 | 4478 views | 0
In a move to further expand its efforts towards displacing cash, spurring innovation and driving the growth of cashless payments in the region, Mastercard today announced that Mastercard cardholders from select banks in the UAE* will now be able use the Samsung Pay service to make payments in a quick and secure way.
Samsung Pay, Samsung’s mobile payments service, is an easy-to-use and secure platform that gives users a contactless way to pay using their compatible Samsung Galaxy devices at compatible Point of Sale terminals. Based on Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies, the highly secure service integrates fingerprint authentication, card tokenization and Samsung’s defense-grade mobile security platform, Samsung KNOX. Samsung Pay will have a unique advantage of enabling payments at contactless as well as non-contactless POS terminals in UAE, giving users a greater sense of certainty of wider POS acceptance. YouTube Video: Introducing Samsung Pay with MasterCard
Standing by its commitment to supporting the UAE’s growth as a technologically advanced country, Mastercard has been actively driving contactless payments in the market, offering partners and their consumers safe, simple and convenient solutions.
“The launch of Samsung Pay in the UAE signals exciting times for all stakeholders in the Middle East and Africa’s payments industry and strengthens our pursuit to launch innovative solutions that will deliver enhanced consumer experiences and step up the adoption of digital payments. As digital payments evolve, Mastercard is committed to building partnerships with technology players like Samsung to help banks and other partners offer interoperable solutions with safe and frictionless user experiences. The UAE is already at the forefront of encouraging and integrating smart payments and our support towards facilitating the successful implementation of Samsung Pay reinforces our commitment to matching the country’s impressive strides in strengthening the digital economy,” said Khalid Elgibali, Division President, Middle East and North Africa, Mastercard.
The Mastercard Digital Enablement Service (MDES) enables Mastercard credit and debit cardholders to use Samsung Pay and enjoy maximum security on their transactions. Designed to transform Samsung mobile devices into commerce devices, MDES uses the most advanced payment technologies - EMV, tokenization, cryptography and biometrics - to ensure the integrity of cardholder information. For consumers and retailers alike, every purchase made with a Mastercard using Samsung Pay offers all the benefits and guarantees of a transaction with the physical Mastercard card.
Mohammed Gharaibeh, Head of IT and Mobiles (B2B) division at Samsung Gulf Electronics, said: “We are excited to collaborate with Mastercard and are confident that the synergy that this arrangement has started will benefit the sector immensely. Digital solutions require strong partnerships and we see it here with this launch as enhanced hardware security including biometrics and Samsung Knox works seamlessly with Mastercard Digital Enablement Service (MDES). With its powerful security features, MDES will enhance the shopping experience for Samsung Pay users by offering them complete peace of mind as they make contactless transactions that are safe, swift and in sync with their lifestyles.”
This announcement builds upon both companies’ global collaboration and the launch of Samsung Pay in markets around the world. Last year, Mastercard announced an agreement with Samsung to enable Samsung Pay users to shop online at the hundreds of thousands of merchants around the world where Masterpass is accepted. The integration will also deliver benefits for banks and merchants who are now able to expand their reach to consumers using these services, without additional development work.
*Banks offering the service include Mashreq Bank, Emirates NBD, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, RAK Bank and Standard Chartered Bank.