November 22, 2024

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[THE INVESTOR] Samsung Electronics said on Aug. 22 it has launched its mobile payment tool Samsung Pay in South Africa, marking the first time it is offering the service in the continent.

Following the latest release, Samsung Pay is available in 24 countries around the globe.

Samsung Pay, launched three years ago, is a mobile payment platform installed on major Samsung smartphones. The service works on traditional credit card machines based on magnetic secure transmission technology and also supports near field communication payments.

The platform holds ties with 2,000 financial firms, with partners including the United States’ PayPal and China’s Alipay or WeChat Pay.

“Since we began offering Samsung Pay, we have been dedicated to delivering a mobile wallet platform that is simple, secure and works almost anywhere,” Samsung Electronics President Koh Dong-jin of the IT and mobile division said.

Koh said Samsung will continue to make efforts to provide more convenient payment experiences to users, including connecting Samsung Pay to the company’s artificial intelligence program, Bixby.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)