wordpress blog stats
Connect with us

Hi, what are you looking for?

Samsung Pay now gets Mobikwik

The Mobikwik wallet has joined Samsung Pay’s list of partners, making it one of the payment solutions available on the Samsung Pay app, reports PTI, adding that Mobikwik has over 55 million users and 1.4 million merchants. Samsung Pay’s website lists Paytm as its “current wallet partner” for the primary Samsung Pay app, while Mobikwik is listed as a partner, along with Paytm, for the Samsung Pay Mini app. Mobikwik says it will be available on Samsung Pay soon.

The Samsung Mini app integrates these two wallets and UPI, but doesn’t support card or NFC based payments.

For Mobikwik and Paytm, users have to scan a QR code to make a payment. That’s how it has to be done even if you have a Mobikwik or a Paytm app on your phone anyway, but what works for Samsung Pay is that it comes pre-installed on Samsung devices, has built an acceptance network, and offers customers multiple payment options: it’s a payments aggregator, and given that the payments business operates on large scale and thin margins, payments businesses would rather be on it than not. Think of Samsung Pay as a payment gateway for Samsung devices.

Samsung Pay Mini is available on the J7 Max, J7’16, J7 Prime, On Max and On Nxt, although Samsung’s website only mentions J7 Max and On Max. Samsung Pay, in comparison, is available for the following: the S8, S8+, S7, S7 edge, S6 edge+, Note 5, A7 (2017), A5 (2017, A9 Pro, A5 (2016), A7 (2016) and the J7 Pro. Banking partners for Samsung Pay include Axis Bank, HDFC Bank, ICICI Bank, Standard Chartered, Citibank, American Express and SBI Cards. In terms of card acceptance partners, Samsung Pay has a tie up with Pine Labs, and it’s odd that the site doesn’t list Mswipe, which it partnered with in May. Samsung has made it explicitly clear that the payment option will not support online purchases and will work only for in-store purchases.

Security

Advertisement. Scroll to continue reading.

The website for Samsung Pay says that it has three layers for security:

– Fingerprint or PIN authentication.
– Card tokenization, the process of substituting a sensitive data element with a non-sensitive equivalent. In this case, a card’s number will be masked with an another card number.
– Samsung KNOX, a mobile security solution where card information is still safely encrypted within a separate and secure data vault. This will help when a mobile phone is stolen or compromised.

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ