American Express is Samsung Pay’s first Australian partner
An Australian launch for the contactless service is planned later this year.
Samsung's plans for its Samsung Pay service in Australia are firming up, with American Express becoming the financial provider to say its cards will be able to be used with the contactless payment service.
Samsung announced its plans for Samsung Pay in August last year and promised a 2016 launch in Australia for the service. It confirmed those plans at Mobile World Congress in Barcelona this week, also announcing that its new Samsung Galaxy S7 and S7 Edge will support the service.
Post launch, you’ll be able to use Samsung Pay wherever American Express contactless payments are accepted both in Australia and overseas. Once it’s launched, you’ll need to download Samsung Pay from the Android Appstore and link it with your credit card. Once you’ve reached the cash register, you’ll just need to open the app and tap your phone against the contactless payment terminal to make purchases under $100, just as you would with any other cashless payment.
American Express was also the first bank to offer the similar Apple Pay service to its customers. Apple has been negotiating with other banks to provide the service but there have been issues over how much commission it wants to charge.
Neither Samsung nor American Express have confirmed an exact launch date yet, but it's believed that this will happen in the first half of this year. Google is also planning to launch its similar Android Pay service in Australia this year.
Samsung Pay has already launched in the US and South Korea and is also due to launch in the UK, China and Spain this year. in addition to Australia will be launched in China, Spain and the U.K in 2016. So far, Samsung's home country of South Korea is its biggest market, with more than 10 million transactions valued at a total of USD$211 million on the service in 2015.