Earlier this year, the CEO of Samsung Africa, Sung Yoon, said the company plans to launch Samsung Pay in South Africa in June 2018.
Samsung Pay is an app on the company’s newer smartphones which lets your store bank card details on the device, then pay by tapping or “swiping” your phone rather than your physical card.
The app lets you make payments via Magnetic Secure Transmission, which mimics the magnetic stripe on the back of your card.
It can also use the Near Field Communications technology in contactless payment cards.
Yoon said owners of the Samsung Galaxy S9 will then be able to pay for goods and services in South Africa by using their device at point of sale machines.
Not only do users not have to swipe or insert their card, they don’t need to bring it with them at all when they shop, said Yoon.
He said that if you lose a credit card, somebody can pick it up and use it, whereas with Samsung’s phones, you have the option to secure your details and authorise payments with three biometric technologies:
- Iris scan
- Facial recognition
No final details
With the start of June now here, however, Samsung declined to reveal further details regarding the imminent launch of Samsung Pay in South Africa.
“All the answers to your questions will be made public in the not-too-distant future,” said a Samsung spokesperson.
Previously, Samsung confirmed it was working on partnerships with various financial institutions to support the app’s local launch.
It is not confirmed whether Samsung will enable Pay on all supported devices, dating back to the Galaxy S6.
It is also not confirmed which payment cards other than Visa and Mastercard will be supported in South Africa.
It is understood that Samsung Pay is already being tested in South Africa, though, and that the app is functional in real-world transactions.