Android 7.0 Nougat update has begun rolling out to the Galaxy S7 and S7 Edge. With this update, a message pops up stating “The future of payments is coming soon!”. This update contains the Samsung Pay app which indicates that it will soon be launched in India.
We are currently unaware as to when exactly this app will be activated. Rumors suggest that the the payment method will go active by the end of Q2, considering that Samsung is currently just teasing us. Samsung Pay has one major advantage over the other payment apps; it uses both NFC as well as Magnetic Secure Transmission (MST), which supports older magnetic credit card machines. Since most of the card readers are compatible with MST, Samsung Pay can be used in more places.
Right now, India is going through massive Demonetization. Use of plastic money and Electric payment methods has drastically increased. Samsung Pay has a lot of competitors in India such as Paytm, Freecharge, RuPay etc. They will have to pull off something remarkable to replace these payment apps.
Samsung Pay is already available in Australia, Brazil, Canada, China, Russia, Singapore, South Korea, Spain and the U.S. So, are you looking forward to using Samsung Pay? Let us know in the comments below.