Samsung has recently launched its mobile payment service in India. It is still in its beta stage in the country with banks like ICICI, HDFC, SBI, AXIS, Standard Chartered already in the basket and CITI Bank and few others will follow suit. It supports both Visa & Master. India India it also integrates with payment solutions like Paytm. The best part about Samsung Pay is that unlike Android Pay & Apple Pay which uses NFC and only can be used on merchant machines designed specifically for the two. This uses Magnetic technology which is already there in all the credit/debit card machines across the country. So you can use it in any shop apparently which has a traditional card machine. The is very sure as it uses your finger prints coupled with pin and otp for transaction. Also as you are not giving your card to other person you are not exposing your card number hence thefts are not possible. If you loose your phone you can always delete your information in the app through Samsung’s find your phone service via internet or logging in their website.
There is one problem though. Samsung Pay is only enabled in their top of the line Galaxy S & Note series. Currently Note 5, S7, S7 Egde, S6, S6 Edge+ users can use this facility. Mid Rangers like the newly launched A7 & A7 also gets this feature. With digitization catching up in India Samsung will surly have earlier mover advantage as both Apple and Android Pay are still to launch their service in India. The most advantageous pay with Samsung Pay it its magnetic technology which is patented. Samsung can really benefit here it it launches this service in more of its devices.