MobiKwik Partners Samsung Pay For 'One-Tap' Payment Solutions

by CXOtoday News Desk    Jul 17, 2017

samsung

Mobile wallet company MobiKwik has collaborated with Samsung Pay, to make its payment solutions available on Samsung Pay app. Now consumers will be able to make payments with ease on Samsung’s budget and mid-range phones.

MobiKwik wallet is now integrated with Samsung Pay Mini which allows users to make payments with “one-tap” at more than 1.4 million MobiKwik- powered merchants across the country, said the digital payments firm in a statement.

MobiKwik will soon be available on Samsung pay- the proprietary mobile payment platform for Samsung’s high-end phones.

“The future of digital payments in India will thrive only by collaborating with various ecosystem partners to drive acceptance. More than 55 million users and 1.4 million merchants will benefit from this association,” said, Daman Soni, Head of Growth, MobiKwik.

Samsung Pay has been launched in India this March, and this made Samsung the first smartphone company, ahead of Google andApple, to launch its own payment service in India.

Samsung has launched a ‘Mini’ version of the platform that integrates UPI and mobile wallets to work on mid-range smartphones. It does not, however, support tap-and-pay using credit and debit cards like the main app.

Samsung Pay is not only equipped with standard NFC (Near Field Communication) but also supports MST (Magnetic Secure Transaction) for offline payments at card terminals. In other words, this enables users to register their credit or debit card on the app and then use it at any establishment with a PoS machine.

“Moving into the next phase of new and innovative services for Samsung Pay, we are delighted to have MobiKwik on board as a partner,” said, Sanjay Razdan, Samsung India Director (Samsung Pay Business).

Digital payment in the last one year has seen a rise, various initiatives by the Indian government under its Digital India program, resulted in the rise in mobile and internet transactions. The demonetization drive towards the end further pushed Indians to adopt digital payments and spearheaded India’s strive towards a less-cash oriented economy. The digital payments sector has seemingly been busy all throughout the year.