Samsung Pay coming to China as company signs deal with card-processor UnionPay
Samsung Pay will be available in China “as soon as early 2016” after the company signed a deal with card-processor UnionPay. The deal was an essential step as UnionPay has a monopoly on payment terminals in China. Apple yesterday announced its own deal with the company for Apple Pay.
Injong Rhee, Executive Vice President at Samsung Electronics said, “The collaboration with China UnionPay, coupled with the support from major UnionPay partner banks in China, will bring this secure and easy-to-use mobile payment solution to more Samsung mobile users.”
The deal will allow Samsung Pay users to use both swipe and contactless payment terminals, but there is still some red-tape to overcome first …