Mobile payments trend is getting bigger: MasterCard to connect Europe to Samsung Pay
Samsung has struck a deal with MasterCard to connect European card issuers to the handset manufacturer’s forthcoming mobile payments service.
Much like Apple Pay – which made it debut in the UK last month – consumers will be able to activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service and use their mobile devices to make purchases at contactless and magstripe terminals across the continent.
Earlier this year, MasterCard announced it would provide the tokenisation services to Samsung Pay for its secure transactions.
Samsung Pay is scheduled to launch in the US and South Korea later this summer. The firm says it is currently in discussiion with banks and merchants across the continent to bring the payment service to Europe soon after.