DBS Bank India (DBS) today announced its partnership with Samsung Electronics for its payment platform Samsung Pay. This partnership will enable DBS debit card holders to make contactless payments using their Samsung smartphones.
With Samsung Pay, DBS customers can widely use their smartphones as majority of Point of Sale (PoS) terminals in India are Magnetic Secure Transmission (MST) enabled. In addition they can also use their smartphones at Near Field Communication (NFC) enabled PoS terminals.
Announcing the partnership Shantanu Sengupta, Head, Consumer Banking Group, DBS Bank India said, “As a bank committed to making banking simpler we continuously seek to seamlessly integrate technology solutions innovatively for a convenient and hassle-free customer experience. We are pleased to make Samsung Pay available to our customers to add further value to our existing payment options.”
“Millions of customers in India have fallen in love with Samsung Pay. Samsung Pay is simple, secure and its biggest USP is that it is accepted almost everywhere a user can tap or swipe physical cards. Our partnership with DBS Bank will further enable more users to make seamless digital payments in a secure manner,” Sanjay Razdan, Director, Samsung India, said.
DBS customers can avail this facility by scanning and validating their debit card on select Samsung mobile phones.
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
