Montreal-based Mobeewave has signed a global partnership agreement with Samsung Electronics that will enable Mobeewave to offer its patented in-person contactless payment acceptance product on Samsung devices, according to a press release.

Mobeewave offers this technology to banks as a white-label product, a company spokesperson told Mobile Payments Today. It can then be offered to the banks' clients in one of two ways: either as an app they download onto a Samsung device or it can be integrated into a bank's existing app as an additional feature.

The product enables users to accept payments from a contactless card or mobile wallet using only their phone — essentially turning a smartphone into a payment terminal. Under the terms of the agreement, which came into effect on Jan. 1, Mobeewave's product will be available for commercial use on Samsung flagship devices in targeted markets around the world. 

Designed with an emphasis on security, Mobeewave's patented technology encrypts personal user information and ensures no sensitive data is saved on the device. It will be available for commercial use on the Samsung Galaxy S7, S7 edge, S8, S8+ and Note8.

"We're delighted to partner with a true innovator like Samsung," Maxime de Nanclas, COO and co-founder of Mobeewave, said in the release. "Providing our patented contactless payment acceptance solution through Samsung's flagship devices will enable merchants in markets around the world to enter the digital economy."

Mobeewave first released this product in 2016 through an agreement with Global Payments Inc.