Samsung Pay Expands to China
Samsung Pay is now available in China, the result of a new partnership between Samsung Electronics and China Union Pay. The mobile wallet can be used nearly anywhere debit and credit cards are accepted in China.
Samsung Pay’s major competitor, Apple Pay, made its way into the Chinese market back in mid-February, and saw tremendous growth within the first week of availability. After just two days, Apple Pay had over three million cards activated on its mobile wallet in China. This should indicate strong potential for Samsung Pay to experience rapid adoption with its expansion.
Currently available in the United States and South Korea, Samsung Pay is expected to expand into Australia, Brazil and Singapore. Some analysts thought the mobile wallet would enter the UK market with the release of the Galaxy S7 devices, but that has yet to happen.
Samsung Pay can be used through the following devices in China: Galaxy S7, Galaxy S7 Edge, Galaxy S6 Edge+ and Galaxy Note 5. The wallet supports cards from China Guangfa Bank, China Construction Bank, Hua Xia Bank, China CITIC Bank, China Everbright Bank, China Minsheng Banking Corp. Ltd, China Merchants Bank, Industrial and Commercial Bank of China, with plans to soon expand to more financial institutions.