Earlier this year, Samsung have teased that they will launch their mobile payment service in India. Today, it seems like they were serious about it, and that Samsung Pay is really close to release in the country. With their announcement about early access for the service and its opened registration, we may say that it is already official.
The mobile payment service can only be used by the devices who support this service. These include the Galaxy S7 and S7 Edge, Galaxy S6 Edge+, Galaxy Note 5, Galaxy A7 (2016) and Galaxy A5 (2016). Also, what you need is a credit or debit card issued by the banks that support Samsung Pay. These banks are Axis Bank, HDFC Bank, ICICI Bank, SBI Cards and Standard Chartered Bank. Of course, more banks will be added very soon.
The company sees the mobile payment services like a big business in the future. They sure are trying to expand this kind of service into many markets as possible. The Samsung Pay service does have slightly bigger advantage to its competitors on the markets, because of the support for older magnetic credit card machines. The service for now can be used in most of the shops in India, which shows that there is already big interest for the service.