South Korean electronics giant Samsung, in collaboration with MasterCard, has launched its mobile payment solution Samsung Pay in the UK.
Under the partnership, MasterCard is working with Spanish banking group Santander and credit card company MBNA to enable their cardholders use MasterCard with Samsung Pay.
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The payment solution will allow users to make payment at almost anywhere wherever contactless payments are accepted.
Card details will not be stored on devices but on a digital ‘token’, which is powered by MasterCard Digital Enablement Service that allows devices to make payments using industry-standard tokenisation.
MasterCard said that it will generate a unique card number that will be specific to the cardholder’s device and can not be used in conjunction with any other device.
MasterCard president of UK and Ireland Mark Barnett said: “Every Samsung Pay transaction made with MasterCard is highly secure – a critical part of this is our ability to tokenise cardholder details.”
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By GlobalDataSamsung Pay will be initially available on the Galaxy S8/S8+, S7/S7 edge, S6/S6 edge.
