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Banking & Finance

Samsung partners Citibank in Samsung Pay in Singapore

Released at: 18:04, 01/06/2016

Samsung partners Citibank in Samsung Pay in Singapore

Photo: Citi

Deal makes payments easier for Citibank customers in Singapore.

by Nhi Linh

Samsung Electronics Singapore recently announced its partnership with Citibank Singapore Limited for Samsung Pay, the secure and easy-to-use mobile payment service that can be used to make purchases almost anywhere.

Upon the service’s launch in Singapore, Citibank credit card members will have the option to make payments across Singapore using their compatible Samsung mobile phones. The partnership marks a new addition to Samsung Pay’s extensive portfolio of major payment networks and banks, to provide greater flexibility, access and choice for customers in Singapore.

“We are very pleased and excited to have Citibank come onboard as our latest partner for Samsung Pay in Singapore,” Vice President, IT & Mobile, Samsung Electronics Singapore, Mr. Eugene Goh, said.

“The partnership with Citibank, alongside our ecosystem of partners across payment networks, banks, retailers and merchants, assures customers that they will be able to enjoy the full benefits of using Samsung Pay almost anywhere in Singapore.”

Mr. John Denhof, Head of Cards and Personal Loans at Citibank Singapore Limited, is delighted to work with Samsung Electronics to offer its credit card customers a faster and easier way of making payments using Samsung Pay.

“Our value propositions are already the best in each category and through this partnership we bring added convenience to our credit card customers, who can now simply use their mobile phones to tap and pay for their purchases,’’ he said.

Citibank continues to prioritize efforts to make banking easier for its customers by leveraging digitization and innovation, he went on. “Samsung Pay is just one of the many exciting digital solutions that we are progressively introducing to our customers to offer them a differentiated experience that only a Citibank credit card customer can get to enjoy,” he said.

The partnership between Citibank and Samsung Pay is a win-win collaboration for both parties. Samsung will be able to leverage on Citibank’s extensive customer base and merchant network to promote greater adoption and usage of digital payments in the country while Citibank’s credit card members using compatible Samsung phones will enjoy greater convenience in the payment process. With their digital wallets, Citibank customers, who are increasingly digitally-savvy, will truly benefit from being able to pay on the go, wherever they are, and whenever they want.

Samsung Pay Beta Test Program

Ahead of its launch in the second quarter, a select group of customers has been invited to register their participation in the beta testing for Samsung Pay. They will be among the first to preview the company’s flagship mobile payment service in Singapore. Response from consumers is encouraging, with thousands who signing up. Registration has now closed and eligible customers will be notified progressively ahead of the Samsung Pay Beta Test Program.

Samsung Pay will be available to users of the Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+ in Singapore.

More Than a Payment Service

A secure and easy-to-use mobile payment service, Samsung Pay can be used to make purchases almost anywhere that credit and debit cards are accepted.

SIMPLE: With Samsung Pay, every transaction is made super easy. You simply need to swipe up to bring up the last transacted credit or debit card, scan your fingerprint or key in your PIN and make payment.

SAFE: With each separate transaction, Samsung Pay uses an encrypted digital token to replace sensitive card information to prevent fraud. Your payment information is better protected than ever before. Transactions made on Samsung Pay require a registered fingerprint or PIN for authorization, so you are in control when each payment is made. The encrypted fingerprint information is stored in a separate, secure area of your device. Samsung’s industry-leading KNOX security platform, which received the most “Strong” ratings of any mobile security platform for Corporate Managed Security3, provides real-time kernel protection and monitors malicious software and activities on your device for added security.

ALMOST ANYWHERE: Samsung Pay is accepted almost anywhere you can swipe or tap your credit or debit card. By incorporating Samsung’s proprietary Magnetic Secure Transmission (MST) technology, together with Near Field Communication (NFC), Samsung Pay will be compatible with the majority of existing and new payment terminals, allowing users to pay with their compatible Samsung smartphone almost anywhere.

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