Samsung Pay is preparing to launch in India in the first half 2017 to take advantage of opportunities arising from the Indian government's demonetisation program. The company has already announced that it will be launching its own mobile wallet service called Samsung Pay, which will allow users to make payments with their smartphones and tablets using a contactless payment terminal. After the recent demonetization of INR 500 and INR 1,000 currency denominations in India, people have increasingly started using credit and debit cards as well as mobile payment solutions like Paytm and Freecharge, so it is the right time for Samsung to launch Samsung Pay in India. Samsung Pay’s use of magnetic secure transmission (MST) technology would give it an advantage over Apple Pay and Android Pay, which need near-field communication (NFC) equipped point-of-sale infrastructure.
Samsung Pay is preparing to launch in India in the first half 2017 to take advantage of opportunities arising from the Indian government's demonetisation program. The company has already announced that it will be launching its own mobile wallet service called Samsung Pay, which will allow users to make payments with their smartphones and tablets using a contactless payment terminal. Samsung Pay’s use of magnetic secure transmission (MST) technology would give it an advantage over Apple Pay and Android Pay, which need near-field communication (NFC) equipped point-of-sale infrastructure.