Samsung Pay unveils its update with UPI support

Samsung has rolled out the new update for its mobile payment service, Samsung Pay, recently in India.

In the update, Samsung is launching the support for Unified Payment Interference (UPI) within the service, reported the Deccan Chronicle.

The support would enable Samsung customers to access multiple bank accounts through a single payment platform.

The mobile payment service works with Visa, MasterCard, American Express, Axis Bank, HDFC Bank, ICICI Bank, SBI Cards, Citibank and Standard Chartered Bank in India.

The South Korean Multinational officially rolled out Samsung Pay in India last month. It also comes with a support for Paytm wallet as well.

The service comes with support with Magnetic Secure Transmission (MST) and Near Field Communication (NFC) and is secured by three levels–Fingerprint Authentication, Digital Tokenization and Samsung KNOX.

The feature is envisioned in sync with the “Digital India” initiative.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.