You may remember that a few days ago we reported that Samsung has brought its mobile payment service in Malaysia, and now the company implies that it is working on the way to bring its payment service in India and has predicted that Samsung pay may arrive in the country in the first half of the next year 2017.
Though India is now very fast on digitalization, the country is still in lack of NFC-equipped Point of Sale devices, therefore, if the Samsung Pay service comes in the country then Samsung Pay’s MST activity will be the major concern for the users, and to make it happen the South Korean tech giant Samsung is most probably working on its mid-range smartphones to bring Samsung pay system on these devices so that it can help to increase the consumer’s presence from scratch.
Right time to enter India
As we know that recently the Indian government has banned 500 and 1000 rupee’s Indian notes in the country, therefore, the use of credit and debit cards have rapidly increased along with the mobile payment service like Paytm and Freecharge. So, in that moment if Samsung introduces its Payment service in the country then with no doubt consumers will obviously tend to the Samsung Pay to finish their transactions. However, recently Samsung has negotiated with numerous Indian prime banks to run its My Money Transfer app for Tizen-based Z1 and Z3 smartphones in the country.
So, in total, Samsung’s Pay service is active in 10 countries including recently joined Malaysia and Australia, Brazil, Canada, China, Russia, Singapore, South Korea, Spain, and the US. We are looking forward to seeing Samsung Pay in India in the first quarter of next year.