Everything you need to know about Samsung Pay in Malaysia
E-payments made e-easy
You've seen how it works in other countries and now you can do it too. With just your smartphone, say goodbye to days of awkwardly fishing for your wallet at the cashier counter or fumbling to keep back your change while grabbing your purchase. Samsung Malaysia Electronics recently launched Samsung Pay in the country with several banks and local merchants joining on board as partners. Here's everything you need to know about the new mobile payment service in Malaysia.
1. Is my bank Samsung Pay-friendly?
Samsung already has an existing collaboration with Maybank. The newcomers to the system are CIMB, Citibank and Standard Chartered. Coming soon: Hong Leong. It is also in affiliation with MasterCard and Visa.
2. What about loyalty card partners?
At the moment, B Infinite, Bonuslink and Sunway Pals are on board. More loyalty brands are expected to join in the coming months.
3. Standard Chartered is rewarding their customers who join Samsung Pay
"We are rewarding clients, who are early adopters, up to 20% cashback for transactions done through Samsung Pay until 30 April 2017. New clients who sign-up for the Standard Chartered credit card will enjoy an additional RM150 cashback," said Aaron Loo, Head of Retail Banking, Standard Chartered Bank Malaysia.
4. Visa explains how it works
"Samsung Pay uses Visa Token Service which replaces cardholder information with a unique digital identifier without exposing sensitive account information," said KB Ng, Visa Country Manager for Malaysia.
5. Is it widely available in Malaysia?
According to Samsung Malaysia Electronics, over 90 per cent of merchants ranging from F&B outlets to fashion and lifestyle retailers to supermarkets and department stores in Malaysia have adopted the system and are equipped to offer a seamless experience as training has been provided to cashiers as well as point of sale acceptance marks.
6. Does it work for all Samsung smartphones?