MasterCard Partnership to Bring Samsung Pay to Europe
Samsung’s highly anticipated mobile wallet, Samsung Pay, is expected to launch in America this summer, but an expanded partnership with MasterCard will now allow the digital wallet to reach Europe as well. MasterCard and Samsung have an existing partnership for the wallet known as the MasterCard Digital Enablement Service, but they are extending its global reach to target other markets in the near future.
As a mobile payment service, Samsung Pay allows owners of certain mobile devices to make purchases at contactless terminals using near field communications (NFC) technology.
While there is no official date set for the launch in Europe, Samsung is working with banks and other financial partners to soon launch their mobile wallet in the continent. Some industry leaders predict the wallet will be released with the newest line of Samsung devices in the UK, which is scheduled to come out on August 13th. Rumors also suggest the product may be released in China at the same time. When the wallet debuts in America, it will also launch in South Korea, where the company is based.
Samsung Pay may not be entering the market at an ideal time, with competition from Apple Pay, Google Wallet and the upcoming release of CurrentC. Nevertheless, the launch of new devices on the Samsung Note and Samsung Galaxy lines may be enough to convince enthusiasts of the brand to adapt to its mobile wallet.
About Bill Hardekopf
Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.