MasterCard and Samsung have announced today that they are extending their global partnership which will provide Samsung the MasterCard Digital Enablement Service (MDES) in order for Samsung to deliver Samsung Pay in Europe.
Samsung Pay is Samsung’s new mobile payment service that will basically enable the consumers to use their Samsung flagship mobile devices to make every day in-store purchases at magnetic stripe terminals.
The European card issuers will now be able to connect to the MDES platform and simply activate the Samsung Pay service upon launch. Moreover MasterCard had even announced that it will provide the tokenization services to Samsung Pay for its secure transactions which will enable a quick scaling connection to bank partners in the US.
Injong Rhee the EVP of Samsung Electronics, Global Head of Samsung Pay stated that the new payment service is very happy and pleased to join hands with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard holders and issuers in Europe.
“Samsung Pay is pleased to join forces with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard cardholders and issuers in Europe,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet.”
Javier Perez the President of MasterCard Europe stated that with the increased global growth and reliance on connected mobile devices the company is very delighted to extend its relationship with Samsung.
He also stated that through this strong partnership the company looks forward to continuing to drive innovation in mobile commerce by creating simple and secure digital payment methods for the consumers.
“With the continued global growth and reliance on connected mobile devices, we are delighted to expand our relationship with Samsung by extending the reach of Samsung Pay and MDES to cardholders in Europe. Europeans have been leading the way in the adoption of new ways to shop, buy and make a payment. Through our strong partnership with Samsung we look forward to continuing to drive innovation in mobile commerce by creating simple and secure digital payment experiences for consumers,” said Javier Perez, President of MasterCard Europe.
Samsung Pay has been scheduled to launch in the US and South Korea in this summer and the South Korean giant is currently working with banks and its partners in order to bring the payment service to Europe.