Samsung Pay will be available for use in Singapore from next Thursday, 16th June 2016 on Samsung Galaxy Note 5 4G+, S6 edge+ 4G+, S7 4G+ and S7 edge 4G+.
Singapore is the 5th country after Spain, China, US and South Korea to have Samsung Pay.
Samsung Pay has partnered with major payment networks such as American Express, MasterCard and Visa, and major banks such as Citibank, DBS/POSB, OCBC Bank and Standard Chartered.
Unlike Apple Pay, Samsung Pay is not limited to just contactless terminals because of Samsung’s proprietary Magnetic Secure Transmission (MST) technology.
Magnetic Secure Transmission (MST) is a technology that emits a magnetic signal that mimics the magnetic strip on a traditional payment card. MST sends a magnetic signal from your device to the payment terminal’s card reader (to emulate swiping a physical card without having to upgrade the terminal’s software or hardware). MST technology is accepted at nearly all payment terminals with a card reader.
Because of that, you can use Samsung Pay for transactions above S$100.