Following this announcement, beginning on the 3rd of April 2024, customers and clients will not be able to add or use Mir cards in the Samsung Pay solutions, as the payment card will not be available anymore.
According to Reuters, the functionality of adding and using club cards or loyalty cards in the Samsung Pay application is expected to work in an unchanged manner.
Samsung Pay was developed in order to enable each transaction that is made by its customers to be covered by their bank’s fraud protection offerings and be authenticated by biometric processes, aiming to deliver an improved and secure payment experience. At the same time, the product is focused on meeting the needs, preferences, and demands of its users in an ever-evolving market, while also remaining compliant with the regulatory requirements and laws of the industry.
Mir represents a Russian card payment system that was designed for electronic fund transfers established by the Central Bank of Russia. The financial institution does not issue cards, extend credit, or set rates and fees for its clients, but it does provide banks with credit and debit programs, as well as a secure suite of services. The payment cards issued by the Mir application have become more important even since its US rivals suspended their operations in the region of Russia, in February 2022, after the invasion of Ukraine. This process stopped their payment cards and an overall suite of solutions that were issued in the country to work abroad.
Samsung Pay officials mentioned that its solutions are set to continue to operate in Belarus, which has also come under heavy Western sanctions currently. The mobile payment tool that was pre-installed on Samsung smartphones will be suspended, as the company’s partnership with the Mir payment system will be terminated.
In addition, the Mir Pay application will be enabled to be downloaded from the RuStore, a Russian app for customers and clients that leverage Android devices, as well as the Android App Gallery. According to the same source, currently, the Mir Pay application is not available on the Apple Store or the Google Pay either.
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