MasterCard to expand partnership with Samsung in Europe for Samsung Pay

MasterCard announced that they are in the process of extending their global partnership with Samsung enabling its MasterCard Digital Enablement Service (MDES) to deliver Samsung Pay in Europe. European card issuers will be able to connect to the MDES platform and activate the Samsung Pay service when it launches.

The press release issued announcing the partnership conveys that, Samsung Pay is a mobile payment service that will enable consumers to use their Samsung flagship mobile devices to make every day in-store purchases at contactless and magnetic stripe terminals. Cardholders can activate their credit, debit, reloadable prepaid and small business cards from participating issuers in the Samsung Pay service.

Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay said that, “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 holders and issuers in Europe,” the press release revealed. On the other hand, Javier Perez, President of MasterCard Europe expressed his pleasure on expanding their relationship with Samsung by extending the reach of Samsung Pay and MDES to cardholders in Europe. Perez also opined that through a strong partnership with Samsung, the company is looking forward to drive innovation in mobile commerce by creating simple and secure digital payment experiences for consumers.

MasterCard, earlier this year already announced that it would provide tokenization services to Samsung Pay for its secure transactions. Perez further articulated that, Europeans have been leading the way in the adoption of new ways to shop, buy and make a payment. Samsung Pay is scheduled to launch in the U.S. and South Korea later this summer. Samsung is currently working with banks and partners to bring the payment service to Europe.

Contact the writer at feedback@ibtimes.com.au or let us know what you think below.