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Samsung Pay Launches Partnership with Sberbank

Russia on November 08, 2016

Samsung Electronics announced today a new Samsung Pay partnership with Sberbank. Beginning November 8, Sberbank customers with Mastercard credit or debit cards can register them for use with Samsung Pay.

With the new partnership, Samsung Pay is now available with seven major banks including Alfa Bank JSC, VTB 24 OJSC, MTS OJSC, Reiffeisen Bank JSC, Russian Standard Bank JSC and Yandex LLC.

To use Samsung Pay, customers simply need to open the Samsung Pay app and tap their compatible* Samsung device against the NFC or MST reader to make a payment.

Mr. Arkadiy Graf, Head of Samsung Mobile Russia, said, “Since September 28, Samsung Pay has provided our Russian users with a simple and secure payment method that can be used almost anywhere they can swipe or tap their payment cards. We’re delighted to announce the availability of Samsung Pay for Sberbank customers. With this partnership, Samsung Pay now covers 65 percent of all private bank accounts in Russia and 80 percent of the country’s urban population.”

Mr. Alexander Torbakhov, Deputy Chairman of the Sberbank Board, said: “Very soon credit cards will become a relic of the past. Smartphones and smart watches, that let users pay for purchases quickly and safely are to replace cards. Now Sberbank customers can use a convenient Samsung Pay service and make payments with a single touch of the smartphone, almost anywhere payment cards are accepted.”

More Than a Payment Service

A secure and easy-to-use mobile payment service, Samsung Pay can be used to make purchases almost anywhere that credit, debit and prepaid cards are accepted.

  • SIMPLE: To make a payment on Samsung Pay, users can simply swipe up on their eligible Galaxy smartphone, scan their fingerprint and pay.
  • SECURE: Samsung Pay uses three levels of security to enable secure payments – fingerprint authentication, tokenization and Samsung Knox, Samsung’s defense-grade mobile security platform.
  • ALMOST ANYWHERE: Samsung Pay is compatible with the majority of existing and new terminals, allowing users to pay almost anywhere you can swipe or tap your card.

No fees are charged by Samsung Electronics Co., Ltd. from any Samsung Pay users, emitting banks, acquirer banks and trading companies.

* Compatible Samsung devices currently include the Samsung Galaxy S7 and S7 edge, S6 edge+, Galaxy Note5, Galaxy A5 (2016) and A7 (2016). Samsung Pay availability with NFC payments will also be extended to additional devices including the Samsung Galaxy S6 and S6 edge.

Sberbank OJSC

Sberbank is the largest bank in Russia and one of the leading global financial institutions. Sberbank accounts for around one-third of Russian banking sector assets. Sberbank is a key creditor for the national economy and has the biggest share on the deposit market. The Central Bank of the Russian Federation is the founder and a principal shareholder of Sberbank OJSC. It owns 50% of its registered capital plus a voting share. The remaining 50% of the bank’s shares belong to Russian and global investors. Over 135 million people and 4 million companies in 20 countries are Sberbank clients. The bank has the largest network in Russia, consisting of around 17,000 offices and business units. The bank’s foreign network consists of subsidiary banks, branches and representative offices in the UK, USA, Central and Eastern Europe, India, China, Turkey and more.

Source : Samsung

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