Android phone maker Samsung launched its digital payment application, called ‘Samsung Pay’, in the country as Indians look to shift to newer payment methods after Prime Minister Narendra Modi’s demonetisation exercise.
The early access service is available only with a few banks – Axis, HDFC, ICICI, SBI, and Standard Chartered.
‘Samsung Pay’ works with both NFC (near field communication) and MST (Magnetic Secure Transmission). This means it works with any payment terminal that accepts either the traditional swipe feature of the card or contactless payments.
Takeaways from above News-
- Samsung headquarter is in Seoul, South Korea
- Samsung launched its digital payment application named ‘Samsung Pay’ in India.
If you have any other takeaways, do share with us in the comment section
Source- The Hindu