Smartphone-maker Samsung, which recently launched its digital wallet app Samsung Pay in India, has tied up with State Bank of India to store higher variants of SBI debit cards on the app.
This collaboration turns the Samsung smartphones into electronic card-holders and users can pay at point-of-sale (PoS) terminals with just a tap on the cards stored in Samsung Pay. Samsung Pay works on 2.5 million PoS card machines across the country through its magnetic secure transmission (MST) technology.
Important Takeaways from Above News-
- Samsung Electronics Co. Ltd. is Headquartered in South Korea.
- Lee Kun-hee is the Chairman of the Samsung Group.
Source- The Hindu Business Line