In June 2022, Samsung announced that they had combined the capabilities of Samsung Pay and Samsung Pass into a new platform, Samsung Wallet, in a hope to increase their product capabilities. The app enables Galaxy users to organise digital keys, boarding passes, identification cards, amongst others, in one easy-to-use and secure mobile application.
At launch, the platform was available in six countries - France, Germany, Italy, Spain, the UK, and the US – but with Samsung’s most recent announcement, it is set to roll out in the following 13 territories as well: Bahrain, Denmark, Finland, Kazakhstan, Kuwait, Norway, Oman, Qatar, South Africa, Sweden, Switzerland, Vietnam, and UAE; the exact dates on when the product will be available are yet to be confirmed.
Samsung Wallet users are enabled to make payments using their credit or debit cards, and to manage their access to membership cards, boarding passes, and even cryptocurrency wallets. The Samsung Wallet platform can store personal ID cards and other government-issued documents, such as driver’s licenses, protected by Samsung’s security platform, Samsung Knox. Samsung Knox uses biometric authentication to secure users’ data, with features such as fingerprint recognition and encryption being required when accessing the app. Additionally, the Samsung Wallet is designed to store documents of a particular sensitivity in an isolated environment, the embedded Secure Element, thus offering an additional layer of protection when it comes to potential digital and physical hacking attempts.
Making use of Galaxy’s open ecosystem, Samsung Wallet integrates with Samsung Blockchain Wallet to monitor cryptocurrencies, and with SmartThings to unlock doors.
Samsung Wallet incorporates Samsung Pass’s functionalities, which stores passwords securely and allows users to access the apps and services in a secure manner, while also helping them monitor their digital asset portfolio by checking the value of their cryptocurrencies across various exchanges in one place.
Users can add digital home keys to lock and unlock doors with a Galaxy device with the integration of SmartThings and Samsung’s partnerships with home security companies.
The app is available for download on the Google Play Store and on Samsung’s Galaxy Store.
In September 2022, Samsung announced a partnership with Visa and Axis Bank to launch Samsung Axis Bank Credit Cards in India. Consumers using either of the two launched cards to buy Samsung products and services will get 10% cash back all year round and will also benefit from financing options on the credit cards.
In August 2022, Samsung partnered with decentralized video delivery network Theta Network to launch an offline NFT utility campaign, aimed at ensuring commemorative NFT holders can access their benefits both in the online and offline space. These tokens represent a selection of NFTs issued by Theta Labs and Samsung Electronics in February 2022 to pre-order buyers of Galaxy S22 and S8 tablets.
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