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Korean electronics giant Samsung debuted in the payment space on Wednesday by launching Samsung Pay in the country.
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The payment method incorporates all credit cards and debit cards on Visa, Mastercard, American Express or Rupay.
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Users will be able to save several cards on their Samsung Pay app along with linking their Paytm and UPI accounts.
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To make the transaction, users will have to authenticate using their biometric on the phone and then bring the mobile closer to the Point of Sale (PoS) device for the transaction to go through.
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The feature is currently only available on eight mobile devices of Samsung along with the Samsung Gear S3 watch.
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Samsung Pay uses three levels of security and doesn’t store any card information since it uses card tokenization.
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