Samsung Pay will officially launch in Singapore on June 16th, Samsung has announced. The service will launch with the support of the Visa, MasterCard, and American Express payment networks, as well as banks including Citibank, DBS/POSB, OCBC, and Standard Chartered.
Samsung Pay is once again following in the footsteps of Apple Pay, which launched in Singapore in April, but in a statement announcing its launch in the country, Samsung was keen to frame it as the beginning of a strong regional push. “As the first market in Southeast Asia to roll out our mobile payment service, Singapore will pave the way for the region’s adoption of Samsung Pay,” said Samsung Singapore President Stephen Suh.
The Samsung Pay launch comes amid growing enthusiasm for mPayments in the country, with DBS having recently announced that 47,000 of its customers’ payment cards have been uploaded to Apple Pay since the bank began supporting the platform in late May. The bank says it’s now working with other financial services players to increase spending limits for contactless transactions across the industry, a move inspired by customers’ enthusiasm for mobile payments.
That bodes well for Samsung Pay, especially given that it isn’t a direct competitor against Apple Pay, while its real rival, Android Pay, hasn’t yet launched in the country.