Samsung today announced its partnership with several leaders in the banking industry as part of its strategic move to launch and expand its Samsung Pay ecosystem in Malaysia. CIMB, Citibank and Standard Chartered have joined as partners for Samsung’s mobile payment service Samsung Pay, with Hong Leong Bank coming on board soon.
The result is a wide platform for the partners’ respective customers with eligible payment cards to enjoy a more seamless digital mobile payment experience. These partnerships enhance Samsung’s existing collaboration with Maybank and are an expansion of its current affiliation with major payment networks, Mastercard and Visa, as well as loyalty card partners, B Infinite, Bonuslink and Sunway Pals.
Lee Jui Siang, Vice President of the Mobile and IT Business Unit, Samsung Malaysia Electronics said,
“Samsung Pay is a robust mobile payment platform that not only supports the shift towards digital wallets today, but provides a conducive and future-proof avenue for secure e-payments in Malaysia,”
“As Samsung has done with other markets, we have taken a customized approach to our launch in Malaysia, collaborating with key partners to turn swift and secure mobile payments into reality for our users. We are proud to call leading financial institutions and merchants our partners and to introduce Samsung Pay as the most widely accepted mobile payment service in Malaysia. We are working tirelessly to ensure that Samsung Pay is here to stay and this includes our future plans to boost the service through loyalty programmes.”
As part of its efforts to provide a seamless experience for Samsung Pay users, Samsung has been actively engaging merchants, providing training to their cashiers and point of sale acceptance signs. To date, over 90 percent2 of merchants ranging from food and beverage outlets, fashion and lifestyle retailers, and supermarkets and department stores in Malaysia have adopted the system and are equipped to offer users the ultimate convenience in mobile payment.
More merchants are expected to come on board soon. Along with participating banks and merchants, Samsung Pay’s existing support of loyalty card programmes such as B Infinite, Bonuslink and Sunway Pals in Malaysia will be joined by more loyalty brands in the coming months.
Thomas Ko, Vice President and Global GM of Samsung Pay at Samsung Electronics said,
“We are pleased to bring Samsung Pay to Malaysia – a country which is embarking on an ambitious and exciting path towards a cashless society. Even as we launch this service, however, we must be mindful of how consumer expectations and needs are changing. More and more, consumers are not just looking for a payment service, but an upgrade to their wallets to create a truly digital experience for everyday transactions and activities,”
“We envision that Samsung Pay will continue to push the boundaries of what is capable with a phone, and create a truly mobile wallet. We look forward to developing and evolving Samsung Pay and bringing the benefits of this change to our users.”
Samsung Pay’s launch in Malaysia continues a broader push towards introducing mobile payments in Southeast Asia and the Asia Pacific region, following recent launches in Australia, Singapore and Thailand. Samsung strives to ensure its services are tailored to local market needs and preferences. To that end, Samsung Pay has consistently introduced localized value-added services, such as compatibility with loyalty cards in Malaysia, public transport in Singapore, prepaid cards in Thailand, membership service in Australia and more. Samsung is continually exploring new features and is looking forward to bringing these to consumers in Malaysia and elsewhere.
In Malaysia, Samsung Pay is currently available for Galaxy S7 and S7 edge, S6 edge+, Note5, Galaxy A5 (2017 and 2016) and A7 (2017 and 2016).