Samsung India on Thursday rolled out "Samsung Rewards" for the users of its mobile payments service Samsung Pay in India where they can collect and redeem "points" to purchase the company's devices. The programme is already available for Samsung Pay users in other global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia. Samsung Rewards program in India is divided into 3 tiers, namely – Silver, Gold and Platinum, with Platinum being the highest earning tier. The more payments made with Samsung Pay, the quicker users move up in ranking. "With 'Samsung Rewards', we are attempting to drive user engagement and consumer loyalty for the platform," Sanjay Razdan, Senior Director, Samsung India, said in a statement.
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Samsung Pay can be used to make purchases using debit or credit card to make payments. Apart from allowing users in India to simply tap and pay on the go using their registered cards, Samsung Pay has integrated Paytm as well as the government’s Unified Payments Interface into the app. Samsung has also created a digital payment ecosystem by partnering with a number of issuers and card networks. The Card Network and Issuer partners include Visa, MasterCard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Card and Standard Chartered Bank. Samsung Pay works with three levels of security—fingerprint authentication, card tokenization and Samsung’s defence-grade mobile security platform Samsung KNOX to ensure security.
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Samsung Pay works with Samsung’s patented Magnetic Secure Transmission (MST) technology as well as with Near Field Communication (NFC). MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader. Through MST, Samsung pay work on a majority of Point of Sale terminals in India. Since its launch in March 2017, Samsung Pay has rapidly expanded its service by supporting additional value-added features in multiple markets worldwide.
(Inputs from IANS)
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