Samsung has slowly been expanding its mobile payments service Samsung Pay to more markets across the globe. As the service goes live in another market today, the company says that Samsung Pay is now the “world’s most widely accepted mobile payment service.” Samsung Pay has gone live in Mexico today, it’s the second Latin American country to receive the service and the 20th Samsung Pay market globally.
Users with compatible Galaxy devices in Mexico will now be able to make payments on the fly with Samsung Pay. They will be able to use their smartphones for payment at almost all establishments across the country that accept credit, debit, or loyalty cards.
Samsung Pay is widely accepted because in addition to supporting Near Field Communication or NFC, the service is also backed by its proprietary Magnetic Secure Transmission or MST technology. It enables the payment service to work with almost all conventional point of sale terminal thus eliminating the need for merchants to acquire special NFC terminals.
Samsung has partnered with some of the leading financial service providers in Mexico including Banorte, Banregio, Citibanamex, HSBC, and Santander as well as payment providers like MasterCard, American Express, and Visa.