Citibank cards now compatible with Samsung Pay
SAMSUNG Pay announced on Monday that it has added Citibank Singapore to its portfolio of banks and payment networks.
This means that upon its launch in Singapore - expected to be sometime next month - Citibank credit cardholders will be able to make payments across Singapore using the mobile payment service.
Earlier, Samsung Pay had said that the service will be available to customers holding Visa and MasterCard credit or debit cards issued by DBS, POSB, OCBC and Standard Chartered.
Like rival Apple Pay, Samsung Pay lets users add credit and debit cards to their mobile phones and pay at stores by holding the phone near the retailer's contactless reader. With Samsung Pay, users can add up to 10 cards; Apple Pay's limit is eight.
To use Samsung Pay, users authenticate their fingerprints and tap their phones on either a Magnetic Secure Transmission (MST) or Near Field Communication (NFC) reader.
Alternatively, they can enter a four-digit Samsung Pay PIN on their phones.
Forrester researcher Ng Zhi Ying said: "The largest difference between the two systems is that Apple Pay can only be used at NFC terminals while Samsung Pay can be used at both NFC terminals and old credit card terminals."
THE BUSINESS TIMES