MasterCard connects Europe to Samsung Pay
Tuesday, 30 November 2021
Hot on the heels of Apple Pay, the mobile payment and digital wallet service by Apple, comes coverage of the extended deal between Samsung and MasterCard that sees Samsung Pay coming to MasterCard holders in Europe.
As reported by Computer Business Review Online: “European MasterCard cardholders will be among the first users of Samsung pay, as the two companies have extended their global partnership leveraging the MasterCard Digital Enablement Service (MDES).”
Samsung’s mobile payment service uses NF and MST technology and means MasterCard holders will soon be using their mobile phones as payment devices instore.
According to Planet Biometrics, Samsung will be leveraging the MasterCard Digital Enablement Service (MDES) to deliver Samsung Pay across Europe, meaning European card issuers can connect to the MDES platform activating the Samsung Pay service upon launch.
With Samsung Pay scheduled for a US and South Korean Launch later this year, Samsung is currently working with banks and partners to bring the payment service to Europe,’ explained Elliott Holley in Banking Technology.
“Earlier this year, MasterCard announced it would provide the tokenisation services to Samsung Pay for its secure transactions, enabling a quick scaling connection to bank partners in the US,” he said.
Slashgear reports that Samsung has been trialing its Samsung Pay service in South Korea since July, with MasterCard having begun the tokenising millions of accounts in 2013 following the announcement of MDES to get consumer card accounts ready for digital payment services. This, it says, will see private label tokenisation beginning in Q3 of this year.