Samsung Electronics and Mastercard have announced a new partnership centered around Mastercard’s Wallet Express program. This collaboration aims to streamline and enhance digital wallet services for banks and card issuers, offering a more efficient way to expand their digital offerings.
The partnership allows issuers to integrate Samsung Wallet into their services, providing consumers with a versatile range of payment options. This includes the ability to make payments using Samsung’s Galaxy wearable devices, such as the Galaxy Watch, adding speed and convenience to the in-store shopping experience.
Teg Dosanjh, Vice President at Samsung Electronics Europe, expressed enthusiasm about joining Mastercard’s Wallet Express. He highlighted the goal of offering consumers increased flexibility in making payments across various locations. Dosanjh noted the widespread use of Samsung Wallet and anticipated that this partnership would extend its reach.
Valerie Nowak, Executive Vice President of Product & Innovation at Mastercard Europe, also commented on the collaboration. She emphasized the broad range of choices Wallet Express offers to consumers, integrating Samsung Wallet into their banking experience and allowing them to use their preferred Galaxy mobile and wearable devices for payments.
Launched last year, Samsung Wallet combines the mobile payment capabilities of Samsung Pay and Samsung Pass into a comprehensive digital wallet. It allows users to store and manage digital keys, boarding passes, identification cards, and more in a secure and user-friendly mobile application.
According to Samsung’s press release, the use of digital wallets for both in-store and online payments is on the rise in the United Kingdom. Building on the success of Wallet Express, Mastercard plans to launch the next iterations of the Wallet Express Issuer Enablement Programme in 2024 for all issuers in the Europe region.
The program is designed to simplify the process for issuers in enabling Samsung Pay, positioning Samsung Wallet as one of the largest digital wallet platforms. Participating issuers will be able to enhance their capabilities to support Samsung Wallet, providing consumers with comprehensive payment options. Mastercard will facilitate the participation of issuers in the program for eligible Mastercard Digital Enablement Service (MDES) wallets launched in respective countries. This will be done without requiring issuers to initiate separate wallet onboarding projects for the target wallets.
Featured Image via Samsung