Just a few days back we reported that Samsung Pay is arriving in India earlier than its official launch. In that piece of news, we also informed that for the time being Samsung Pay can be accessed from selected and high ranked Samsung smartphones only. These smartphones are Galaxy S7 Edge, Galaxy S7, Galaxy S6 Edge+, Galaxy Note 5, Galaxy A7 (2016) and Galaxy A5 (2016).
Samsung Pay allows you to make digital payment through Magnetic Secure Transmission (MST) and Near Field Communication (NFC) payment systems. In Samsung Payment system your phone will copy your cards up to the magnetic signal, and that means that it will be accepted at most of the merchant establishments. Samsung is adding J Series smartphones soon with Samsung Pay in India soon.
The reason behind the decision is just India-centric and not involving other larger countries like the US, UK, Australia, Brazil or South Korea is that Samsung has 25 million cheaper Galaxy J series smartphones in India out of overall 85 million Samsung phones. Another major factor worked for bringing this decision to the effect is that last year Indian government banned 500 rupees and 1000 rupees notes overnight to clean the black market share in the country.
After this prohibition, the Indian government put thrust on a cashless economy and Samsung Pay fits this bill perfectly. If this experiment meets success in India, Samsung may soon go with this idea to the other leading countries mentioned above. All in all, Samsung is targeting those countries which have a big number of cheaper smartphones.
We must make a note here that sources were right when they said about Samsung Pay is making an early entry to India, and thus we can trust on this news which is announcing a big development regarding Samsung Pay.