After the Demonetization effect, India is getting digitized, and according to few reports, the South Korean Giant, Samsung is planning to launch its Samsung Pay service in India and is also expected to be launched by the first half of 2017. It is also expected that Samsung will be partnering with Visa and MasterCard in the coming days which it has already done in other major markets.
As we know, Android Nougat update is rolled out for many of the Samsung devices in India which brings the Samsung Pay app in India. From the update, all the devices where Samsung Pay app was not available, is made available now and it also shows a pop-up quoting that “The future of payments is coming soon!”
Samsung has begun testing its service in India a few weeks back and the new Nougat update bringing the Samsung Pay app ensures about its intentions. This service could be limited only high-end Samsung Smartphone’s those support Android Nougat. And according to a market research, Samsung has sold more than 2.5 Million Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+, Galaxy S7, Galaxy S7 Edge and Galaxy Note 5 which support Samsung Pay in India.
Because of Demonetisation effects, we can expect this move from Samsung can be successful since we have seen a massive increase in the users of mobile wallets for secured transactions. We have also seen Sundar Pichai, CEO of Google discussing his plan to bring a mobile payment solution for Android users in the India but didn’t mention any date of launching.
This Samsung Pay mobile payment has also been positioned as the central database which will be storing multiple cards from different banks which also includes Samsung’s reward cards. This will serve as a fast getaway for online transactions just with a tap or code. We should wait for few more days for Samsung to give an official word on this?
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