The electronic payment system is now getting more popularity. In the race of electronic payment system, Samsung pay is the all-new electronic payment platform which is continuously growing. Till now, Samsung Pay has proved itself as one of the most seamless, safe and fast electronic payment system. The company has issued a new update for its Samsung Pay. Now, ithe Samsung Pay will support Kotak Mahindra Bank credit and debit cards. The company said this new update comes with bug fixes, speed optimization, and stability improvements. In South Korea, Samsung Payment has gained so much popularity that now it has become the most preferred mobile payment solution there.
The private sector bank, Kotak Mahindra Bank said that now, the bank’s credit and debit card holder can now able to pay using Samsung smartphones at the merchant establishment. As per the latest information, currently, Samsung pay is working on 2.9 million point-of-sale card machines all over the country. After this tie-up, this payment system will strengthen the digital savings account products of Kotak bank. This will enable the virtual debit card, and the cardholders can now make contactless payments.
It may be noted that Samsung had released some upgrades last month and then it started support Yes Bank’s Master card and credit cards. Yes bank is one of the India’s largest autonomous financial institutions.
In August, Samsung Pay was made available for SBI debit card users.
Currently, Samsung’s Galaxy Note 8, Galaxy S8+, Galaxy S8, Galaxy S6, Galaxy S7, and Galaxy J7 2016 has the Samsung Pay feature. Now the company is planning to add this in its upcoming device and some other devices which have been released in the past. It was launched in India in March 2017 and that time it only supported Mater Card, Visa, and American Express. Besides these, the Samsung Pay also worked with some mobile wallets like UPI apps, and Paytm.