Samsung Pay coming to Europe
MasterCard and Samsung this past week announced that they are extending their global partnership, leveraging the MasterCard Digital Enablement Service to deliver Samsung Pay in Europe, according to a press release.
Samsung Pay is a mobile payment service that lets consumers use their Samsung flagship mobile devices to make every day in-store purchases at contactless and magnetic stripe terminals with NFC and MST technologies.
European card issuers will be able to connect to the MDES platform and activate the Samsung Pay service upon launch, according to the announcement. Cardholders can activate their credit, debit, reloadable prepaid and small business cards from participating issuers in the Samsung Pay service. Earlier this year, MasterCard announced that it would provide tokenization services to Samsung Pay for its secure transactions, enabling a quick scaling connection to bank partners in the U.S.
Samsung Pay is scheduled to launch in the U.S. and South Korea later this summer and Samsung is currently working with banks and partners to bring the payment service to Europe.