Samsung Pay has launched in Australia, enabling mobile payments for consumers, but the hardware maker wants its mobile wallet to encompass much more, including gift cards, loyalty and transit.
Available for consumers with Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge smartphones, Samsung Pay will work at participating retailers for consumers with American Express and Citibank cards.
The launch comes a day before Samsung Pay’s scheduled debut in Singapore, where Visa, MasterCard and American Express cardholders will be able to use it. The mobile wallet is already available in the U.S., South Korea, China and Spain.
“In the first six months of launching in Korea and the U.S., Samsung Pay has surpassed more than 5 million registered users and today has processed more than $1 billion of transactions in South Korea alone,” said Elle Kim, global vice president, Samsung Pay, mobile communications business. “This success indicates a tremendous opportunity in Australia, a market where contactless payments are already in strong demand.” As of 2015, Australia was the largest contactless market with NFC payments accounting for 60 to 70 percent of transactions.
Samsung also envisions consumers around the world using its mobile wallet for everything. “The MST technology enables Samsung Pay to support partners that use a traditional magnetic stripe, commonly found on loyalty cards, gift cards and transit cards, both in Australia and across the globe,” Kim said. “It’s our goal to one day replace wallets, by making every card accessible on Samsung smartphones.”
Already in the U.S., Samsung Pay users are able to manage and spend gift cards from Blackhawk Network’s partners through the mobile wallet.
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Image Credits: Shutterstock/Petr Kratochvila