Mashreq has today announced that it is the first bank in the region to offer its customers early access to Samsung Pay – a secure mobile payment service that works as a contactless credit or debit card. Mashreq debit and credit cardholders(Visa/MasterCard) are now enabled to perform transactions at any merchant in an instant, convenient and secure manner, without the use of plastic cards.
Samsung Pay is compatible with the latest Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies. Additionally, and for a limited period, new customers who apply for a Mashreq Solitaire, Smart Saver Global or Platinum Elite credit card will also receive a free Samsung Galaxy S7 edge smartphone, preloaded with Samsung Pay and be the first in the UAE to experience this new mobile payment solution.
Samsung Pay provides secure payments using biometric authentication, tokenization and Samsung Knox to secure customer payment information. Existing Mashreq credit card customers can also enjoy the benefits of Samsung Pay by visiting www.mashreq.com/samsungpay to place a request or respond to the email communication that Mashreq will send, and be expertly guided on how to download and use the solution.
Commenting on the announcement, Subroto Som, Head of Retail Banking at Mashreq said, “At Mashreq, we believe in launching innovations that benefit our customers. Partnering with Samsung is an exciting move in that direction. Samsung Pay App offers Mashreq Cardholders and merchants a simple and secure way to conduct payment transactions. It is the kind of innovation that brings the worlds of mobile payments and physical commerce closer together.”