The platform was first released in India last March and now works on more than 2.5 million PoS card readers across the country.
"Both Samsung and SBI are household names in India and it is a momentous occasion for us to collaborate on Samsung Pay and extend an innovative solution that is transforming people's lives worldwide", said Asim Warsi, Senior Vice President, Mobile Business, Samsung India. He added that Samsung Pay Mini, launched in some mid-segment consumer phones, enables payments by linking Unified Payment Interface (UPI) accounts and digital wallets into the app. Well, the South Korean giant Samsung has also made the Samsung Pay option available on it's mid-range smartphones like Galaxy J7 Pro.
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Mr Hammond also said there would be a registration system in place for people coming to work in the United Kingdom after Brexit .
The J7 Pro comes with a 5.5 inch full HD AMOLED display, 13MP + 13MP camera configurations and a metal unibody design. Galaxy J7 Pro is available in two color variants - Gold and Black. Samsung Galaxy J7 Pro biggest highlight is its 3GB RAM. With the support of Samsung Pay, the bank expects a 10- 20 times growth in the volume of payments.
Through MST, Samsung Pay will work seamlessly on a majority of PoS terminals in India.
While this collaboration is yet another step for SBI to boost its digital payment services, it also gives Samsung an edge over its competitors to gain market share in the highly competitive smartphone segment. With this partnership, Samsung Pay consumers who have an eligible SBI Debit Card can get a flat cashback of INR 100 on a minimum transaction amount of INR 500.