Samsung Pay enters the Mexican market
Although Latin America is still an emerging market when it comes to mobile payments, things are finally starting to move. Back in July 2016, Samsung Pay rolled out in Brazil. Sadly, it took more than a year for this service to reach the second market in Latin America, but now Mexico is welcoming Samsung Pay as well. This brings Samsung Pay's reach to 20 markets worldwide.
According to the official press release, the Samsung Pay service is compatible with the following handsets in Mexico: Galaxy Note 8, Galaxy S8 and S8+, Galaxy S7 and S7 Edge, Galaxy S6 Edge+, Galaxy Note 5, Galaxy A8 and A8+ (2018), Galaxy A5 (2016 and 2017), Galaxy A7 (2016 and 2017), Galaxy A9 (2016), Galaxy A3 (2017), Galaxy J5 Pro, and Galaxy J7 Pro.
When it comes to Samsung Pay's financial partners in Mexico, the three global payment providers lead the way: American Express, MasterCard, and Visa. The list of local partners is quite long and includes names like Banorte, Citibanamex, Banregio, HSBC, Santander, Clip, iZettle, and more.
Samsung Pay is currently one of the most secure payment options one can use, offering three levels of security: biometric (iris or fingerprint scanning), tokenization (virtual information generated on each transaction instead of storing sensitive data on the device), and Samsung Knox integration for real-time protection from suspicious use. At last, Samsung Pay is the most widely accepted solution available nowadays thanks to its ability to use both NFC and Magnetic Secure Transmission (a technology that allows Samsung Pay users to pay at virtually all conventional PoS terminals).