The announcement comes as Apple unveils that it has also partnered with the bank card organisation to bring Apple Pay to Chinese consumers in 2016.
The collaboration between Samsung and China UnionPay will enable UnionPay cardholders to pay for services and goods via NFC and MST (magnetic secure transaction) from the Galaxy S6, S6 edge, S6 edge+, and Note 5. Payments can be made within a few seconds with swipe up, scan and pay.
Samsung Pay-supported contactless payment can be accepted in most of the POS terminals in China, including QuickPass-enabled NFC POS terminals. Also, working with China UnionPay, Samsung Pay ensures secure transactions with triple-layered protection mechanism including fingerprint identification, tokenization and KNOX.
The products and technologies in Samsung Pay strictly comply with national mobile payment and financial industry standards in China. Samsung Pay will receive relevant tests and certification as required by Chinese regulators before its official rollout to UnionPay cardholders in China as soon as early 2016.
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