MasterCard’s digital platform will allow users to make contactless payments on flagship Samsung devices
Samsung has partnered with MasterCard for the European launch of its contactless payments service Samsung Pay.
The Korean manufacturer will used MasterCard’s Digital Enablement Service (MDES) to allow users to make purchases through their mobile devices.
MasterCard will provide the tokenisation service used to secure Samsung Pay transactions by limiting the amount of card information transferred during each payment.
“Samsung Pay is pleased to join forces with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard cardholders and issuers in Europe,” said global head of Samsung Pay Injong Rhee.
“Both organisations are committed to ground breaking tech innovations that will deliver on the promise of a true mobile wallet.”
Samsung PAy is scheduled to launch in the US and Korea later this summer, and now the manufacturer and MasterCard will work with card issuers to bring the service to Europe, but the firm did not reveal an expected release date.
MDES was announced in 2013 and MasterCard claims “millions” of accounts have been tokenised for use in digital wallet services.
MasterCard Europe president Javier Perez said: “With the continued global growth and reliance on connected mobile devices, we are delighted to expand our relationship with Samsung by extending the reach of Samsung Pay and MDES to cardholders in Europe.
“Europeans have been leading the way in the adoption of new ways to shop, buy and make a payment. Through our strong partnership with Samsung we look forward to continuing to drive innovation in mobile commerce by creating simple and secure digital payment experiences for consumers.”
The news comes following the UK launch of Apple Pay on July 14. The service is currently available in more than 250,000 locations across the country.
One key difference between the two payment systems is that Samsung says its PAy service will support magnetic strip technology found on older payment terminals, as well as NFC.
Like Apple Pay, payments will initially be restricted to a maximum of £20 in the UK until the limit for contactless payments is upped to £30 later this year.