Samsung Pay, the BHIM and Paytm Rival, is Coming Soon to India
The digital payment service will be available via Nougat update to Galaxy S7 and S7 Edge users for now.
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The post-demonetisation period in India has given boost to digital payment providers like Paytm, MobiKwik, with PM Modi also announcing the UPI-based BHIM app.
While it would be hard to expect Apple to roll out its payment service, Samsung looks ready to take its position in the digital strata. BHIM or Bharat Interface for Money is a contender in this sector with its UPI-based payment service, connecting directly to the bank.
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The South Korean smartphone giant has teased the Samsung Pay feature to its users in India, courtesy the Android 7.0 Nougat update.
The update has hit Samsung Galaxy S7/S7 Edge users, giving the phone a cosmetic makeover at the software level, and also added a slew of features, keeping it future-proof.
The biggest feature addition of all (yes, even bigger than Nougat) is the teaser to Samsung Pay, which has been in works for the Indian market over the past couple of months.
As you can see, the presence of Pay for Samsung’s high-end users in India is a clear indicator that digital payment is the future.
We’ve seen how the Samsung Pay works in countries like South Korea, with the help of contactless point of sale (POS) terminal points, where items are bought by tapping to the device via near field communication or NFC.
Interestingly, the software update also offers Samsung Pass feature that was first seen on the now defunct Galaxy Note 7. This feature uses biometric options like iris or fingerprint ID for making payments.
It’ll be interesting to see if Samsung chooses the POS terminal option à la Apple Pay, or they subscribe to a more India-friendly payment mechanism by tying-up with banks available in the country. Also, how soon could Samsung roll over the service to mid-range and entry-level devices.
With services like Paytm taking advantage of the cashless situation across the country, Samsung has been a little late to jump into the payment boat, but with over 2.5 million users of the Galaxy S7 and S7 Edge in India, Samsung Pay could get an immediate boost, without the need to make a big noise.
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