South Korean electronics giant Samsung has introduced its mobile wallet service Samsung Pay in China in alliance with China UnionPay, state-owned bankcard association.
Samsung Pay currently supports selected credit and debit cards from nine banks in the country, namely China CITIC Bank, China Construction Bank, China Everbright Bank, China Guangfa Bank, China Minsheng Banking, China Merchants Bank, Hua Xia Bank, Industrial and Commercial Bank of China, and Ping An Bank.
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The mobile wallet users can make payments using Galaxy S7, Galaxy S7 Edge, Galaxy S6 Edge+ and Galaxy Note5.
The company is also planning to add more phones with fingerprint readers later, which will include the Galaxy S6, Galaxy S6 Edge, A5, A7 and A9.
The launch follows the foray of Apple Pay in China in alliance with China UnionPay.
Samsung Pay and Apple Pay will have to compete with other payment options such as Tencent’s WeChat Payment and Ant Financial’s Alipay in the country.
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By GlobalData
