Samsung Electronics’ mobile payment service called Samsung Pay is going to land in Netherland, which is emerging as a new financial center location in Europe after Brexit was a center location.
Followed by Spain, Netherland is the second European country that is going to commercialize Samsung Pay. It is expected that influence and expansion of Samsung Pay in Europe are going to be huge with Netherland as the starting point.
According to an industry on the 10th, Samsung Electronics has started beta test for payments that are made by Samsung Pay in Netherland before officially releasing Samsung Pay in Netherland. It is heard that Samsung Electronics is working with MasterCard and banks in Netherland to launch Samsung Pay in Netherland.
Samsung Electronics is preparing to launch Samsung Pay by working with credit card companies in Netherland through a platform called MDES (MasterCard Digital Enablement Service) that digitalizes MasterCard.
Expandability of Samsung Pay is high as Samsung Electronics is working with more than 200 major banks worldwide, American Express, Union Pay, MasterCard, and Visa. It also announced its partnership with Ali Pay in May of this year.
It is not heard yet when Samsung Electronics is going to officially launch Samsung Pay in Netherland. Usually when Samsung Electronics carries out beta tests with financial companies in a certain country, Samsung Pay is officially launched within a month or two.
Spain was the first European country to launch Samsung Pay. Amsterdam, which is the capital of Netherland that is the second European country to launch Samsung Pay, is considered as the newly-emerging international financial hub. Amsterdam received number 1 ranking when New York Times carried out an evaluation on 7 items such as pro-business regulation system, manpower, telecommunication infrastructure, cultural facilities, education, and transportation.
Starting with Netherland, Samsung Electronics is going to rapidly expand Samsung Pay throughout European region. It is expected that Samsung Pay will be expanded to other regions in Europe by end of this year.
Samsung Pay was first launched in South Korean markets in August of last year. Followed by South Korea, it was launched in the U.S. and China in September of last year and March of this year respectively. Samsung Electronics is increasing number of countries by launching Samsung Pay in Spain, Singapore, Australia, Puerto Rico, and Brazil in June.
Samsung Pay can be used by Galaxy S6 series, Galaxy Note 5, Galaxy S7 series, Galaxy Note 7, and new 2016 Galaxy A series.
According to a market research company called Deloitte, Samsung Electronics’ Smartphones have the highest shares in Netherland’s markets by closing upon 40%.
“Our basic policy is to expand Samsung Pay throughout European region this year.” said a representative for Samsung Electronics’ headquarters. “It is still unknown when we are going to officially launch Samsung Pay in Netherland.”
Staff Reporter Park, Sora | [email protected]
