Samsung Pay Partners with HSBC and Hang Seng Bank, Introduces Compatibility with Gear Smartwatches
Designed with Multiple Security Layers
Samsung Pay Service Offers the Highest Level of Protection
Hong Kong – October 30, 2017 – Samsung Electronics H.K. Co. Ltd. announced today that HSBC and Hang Seng Bank have officially become Samsung Pay partners. Starting from 2 November 2017, both issuers will support Samsung Pay for their consumer credit cards.
Designed with multiple security measures and supporting Near Field Communication (NFC) and proprietary Magnetic Secure Transmission (MST) technologies, Samsung Pay is widely accepted by vendors and offers users a mobile payment service with one of the highest levels of security. Going beyond designated Samsung smartphones , Samsung Gear S3 and Gear Sport  smartwatches now also support Samsung Pay, further enhancing the convenience of mobile payments.
“In an era where mobile payments are increasingly prevalent, Samsung endeavors to develop innovative and highly secure technologies, providing users with a mobile payment that delivers best in class security while being easy to use,” said Yiyin Zhao, Vice President and Head of IT and Mobile Communication Business for Samsung Electronics H.K. Co. Ltd. “Since its inception, Samsung has always considered security an utmost priority, enabling users to use Samsung Pay with confidence in the knowledge their data is safe.”
Greg Hingston, Head of Retail Banking and Wealth Management, Hong Kong, HSBC said, “We are pleased to bring Samsung Pay to our customers who are increasingly using smartphones for their everyday shopping. Technology has reshaped our lifestyles. To meet customers’ changing expectations, HSBC has been investing in digital propositions to make our own banking services simpler, better and faster. The offering of Samsung Pay will enable our customers to enjoy a fast and secure payment experience in the digital era.”
Margaret Kwan, Executive Director and Head of Retail Banking and Wealth Management at Hang Seng, said: “Hang Seng is committed to expanding its contactless payment channels and digital platforms to provide financial convenience and choice for our increasingly mobile and tech-savvy customers. We are pleased to become a Samsung Pay partner and offer a new payment option to our customers."
Organizations that currently support Samsung Pay include payment technology companies American Express, Mastercard and Visa, and now 8 card issuers, including American Express, Bank of China (Hong Kong), Citibank, Dah Sing Bank, DBS Bank, HSBC, Hang Seng Bank and Standard Chartered Bank.
Digital Wallet Services with Total Peace of Mind
Samsung Pay has passed rigid tests to ensure it is one of the most secure digital wallet solutions in the market. Each transaction uses an encrypted digital token to replace a user’s personal payment information for added security. The digital token will be saved in the Trusted Execution Environment (TEE), where it provides industry-leading protection for users’ payment information. Samsung Knox also monitors malicious software and activities on Samsung Galaxy devices installed with Samsung Pay.
Apart from the last four numbers of credit card being used for identification, Samsung does not store any personal payment information on the device or its servers. No matter paying offline or online, Samsung Pay requires iris or fingerprint authentication, or a 4-digit Samsung Pay PIN, to ensure greater security and protection of information.
Samsung Pay is designed not to allow retailers to access users’ actual credit card information. In addition, right after each transaction, users will receive a notification confirming their purchase. With multiple layers of security protection, Samsung Pay is highly secure, allowing users to access their digital wallet with total peace of mind.
Samsung Pay – Well Differentiated from Other Mobile Wallets
Unlike other mobile payment services, Samsung offers both MST and NFC technologies, making it the only mobile payment solution that works almost anywhere you can swipe or tap a card today. It’s compatible with nearly all existing and new point of sale terminals, including most magnetic stripe, EMV and NFC terminals.
Magnetic Secure Transmission (MST) Provides Top Security
Samsung’s proprietary Magnetic Secure Transmission (MST) is a revolutionary method of sending data using magnetic waves. Using MST, Samsung Pay sends encrypted payment information to a terminals’ mag stripe reader, within a few centimeters, causing it to act like a receiver. With Samsung Pay, either MST or NFC technology can be used to make secure, contactless transactions. Samsung has ensured that MST is equally as secure as NFC by creating tokenization and cryptogram for both MST and NFC transactions.
Samsung Pay Service Extends to Smartwatches
In a quest for added convenience and enhanced payment experiences, consumers are looking beyond smartphones to make purchases. That’s why Samsung Pay is available on the Gear S3 and Gear Sport, enabling simpler and more convenient payments than before. Just like Samsung Galaxy devices, Samsung Pay on Gear is protected by Samsung Knox for enhanced security, and users can make payments using NFC and MST  technologies. Even when users do not bring their phone along, they can still make a payment easily and securely  with their Gear smartwatch.
After every Samsung Pay transaction made with their Gear smartwatch, users can view their transaction record on Samsung Pay Plugin, an associated application for Samsung Gear.
For more information about Samsung Pay, please visit http://www.samsung.com/hk_en/samsungpay.
If you need immediate assistance, please contact the Samsung Pay service hotline: (852) 2121 9088.
 Samsung Galaxy Note8, Galaxy S8+, Galaxy S8, Galaxy S7 edge, Galaxy S7, Galaxy S6 edge+ and Galaxy Note5 supports Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies. Galaxy C9 Pro, Galaxy C7 Pro and Galaxy C5 Pro support NFC.
 Gear Sport will be available in Hong Kong in November, 2017.
 Gear S3 supports NFC and MST technologies; Gear Sport supports NFC only.
 User can use Samsung Pay on Gear smartwatches without connecting to the internet. Most credit cards allow users to make up to 10 transactions before connecting to the internet and refresh the Samsung Pay information.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.