Singapore to be First Southeast Asian Country to Have Samsung Pay
Singapore will be the first country in Southeast Asia to receive Samsung’s mobile payment system, Samsung Pay. Samsung said the service will launch this quarter, without giving a specific date. Once available, the city-state will join the likes of South Korea, the U.S. and China. Samsung Pay is a secure and easy to use mobile payment service that can be used to make purchases almost anywhere.
The service has confirmed its partnership with major payment networks – American Express, MasterCard and Visa and major banks such as DBS/POSB, OCBC and Standard Chartered.
“Singapore will be the first country in Southeast Asia to receive Samsung’s mobile payment system, Samsung Pay”
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee’s death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990s, Samsung has increasingly globalized its activities and electronics, particularly mobile phones and semiconductors, have become its most important source of income.
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