YES Bank will now be on the list of Samsung Pay’s payment partners in India. All YES Bank’s Credit Card holders (including Business Card holders) can now use the ‘Samsung Pay’ app to ‘tap and pay’ using their smartphones at Point of Sale (PoS) counters of merchants. Note that the app is supported only on a select range of Samsung smartphones. Here is the list of supported devices Shashi adds: It's curious to note that Samsung Pay does not support YES Bank's debit cards at the moment. When it launched, SBI cards were not supported on Samsung Pay but it took some time to enable the same. However, this will be possible for only 130 million customers of SBI debit cards (the bank has 270 million card holders) as it replaces the remainder cards with newer technology. It remains to be seen if Samsung Pay will partner with more public sector banks. As part of the launch, YES BANK Credit Card holders will receive cashback of up to INR 1,500 per Card on using for using Samsung Pay at PoS counters till September 30, 2017, both companies said in a statement. Other bank partners for Samsung Pay in India include Axis Bank, HDFC Bank, ICICI Bank, Standard Chartered, Citibank, American Express and SBI Cards. Samsung Pay uses NFC (meant for smartphones) and MST (Magnetic Secure Transmission) technology which will work on any PoS machine. MST allows a user to send a magnetic signal from a smartphone to the payment terminal’s card reader. Samsung…
