Samsung Pay to come to Europe with extended MasterCard partnership

Samsung and MasterCard, which have been working together to bring Samsung Pay to consumers and merchants around the world, announced today that they will extend their partnership to launch the mobile payment system in Europe.

Samsung has now joined hands with MasterCard to launch its contactless payment system across the globe.

Samsung is teasing out Samsung Pay in South Korea at the moment and now we have a few details on Samsung’s plans for the service in Europe. TechCrunch has contacted the company for more information.

Cardholders will be able to activate their credit, debit, small business cards, and reloadable prepaid cards from cooperating issuers in the Samsung Pay service, utilizing their mobile devices to make purchases.

While you have been considering a switch to Apple given how Apple Pay has stormed the market and made those little transactions so easy, we suggest you rest assured that Samsung Pay will soon ease your woes.

Mobile payment service Samsung Pay will be launching in the Netherlands, and other European countries, later this year.

Samsung explained that its Pay solution is a mobile payment service that will enable consumers to use their Samsung flagship mobile devices to make every day in-store purchases at contactless and magnetic stripe terminals leveraging NFC and MST technologies.

While the feature is available only for the Galaxy S6 and the Galaxy S6 Edge, it is widely expected Samsung Pay will also be equipped in the new phablet devices that are set to be showcased in August.

The company said last month that it planned to rollout Samsung Pay to Europe.

Javier Perez, President of MasterCard Europe, said: “Europeans have been leading the way in the adoption of new ways to shop, buy and make a payment”. “Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet“.

Since the announcement of MDES in 2013, millions of MasterCard accounts have been tokenized for use in popular digital wallet services. Private label tokenization, announced in June, will begin in the third quarter of this year.

This allows card issuers to connect to and enable Samsung Pay for their customers, and also ensuring they remain secure against any potential criminal activity.