We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mastercard Expands Samsung Pay in South Korea to Serve Better
Read MoreHide Full Article
Mastercard Inc. (MA - Free Report) in partnership with Samsung Electronics and Samsung Card has launched Samsung Pay Card in South Korea. It is the company’s co-branded card that will enable customers to avail of enhanced digital payment facilities in the country.
Mastercard will get a ready customer base in South Korea by virtue of Samsung Pay’s leading market position in the East Asian nation with about 19 million users as of August 2020 and payments collected worth of 80 trillion ($67.5 billion) since the service started in August 2015.
Mobile wallets, such as Samsung Pay facilitates contactless payments as it enables money transfer by just tapping on phone (or watch) without any need to swipe physical credit or debit card. Other similar contactless payment options are Apple Pay from Apple Inc. (AAPL - Free Report) and Google Pay from Alphabet Inc. (GOOGL - Free Report) .
It is important to note that Mastercard had already started providing Samsung Pay services in South Korea since 2015 by utilizing its MasterCard Digital Enablement Service (MDES). Samsung’s mobile payment service is most popular in the country, proven by the fact that Samsung Pay surpassed $33.7 million worth transactions in April 2019.
The latest Samsung Pay Card allows foreign merchants to accept cards registered for overseas payments on the Samsung Pay app. The card can be used globally at all Mastercard merchants equipped with NFC readers. It offers a 5% discount on the payments made via the Samsung Pay app.
Mastercard’s expansion in the Korean market is driven by a strong uptake of digitalization embraced by the region’s economy, which will propel growth for contactless transactions, thereby providing an attractive business opportunity.
Last month, Mastercard co-branded Samsung Pay card was launched in the UK in partnership with the London-based fintech company Curve.
Another company in the same space, Visa Inc. (V - Free Report) , also provides payment services via Samsung Pay, which is supported by its technology, Visa Token Service.
Year to date, the stock has rallied 12.2% compared with its industry’s growth of 4.4%.
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Mastercard Expands Samsung Pay in South Korea to Serve Better
Mastercard Inc. (MA - Free Report) in partnership with Samsung Electronics and Samsung Card has launched Samsung Pay Card in South Korea. It is the company’s co-branded card that will enable customers to avail of enhanced digital payment facilities in the country.
Mastercard will get a ready customer base in South Korea by virtue of Samsung Pay’s leading market position in the East Asian nation with about 19 million users as of August 2020 and payments collected worth of 80 trillion ($67.5 billion) since the service started in August 2015.
Mobile wallets, such as Samsung Pay facilitates contactless payments as it enables money transfer by just tapping on phone (or watch) without any need to swipe physical credit or debit card. Other similar contactless payment options are Apple Pay from Apple Inc. (AAPL - Free Report) and Google Pay from Alphabet Inc. (GOOGL - Free Report) .
It is important to note that Mastercard had already started providing Samsung Pay services in South Korea since 2015 by utilizing its MasterCard Digital Enablement Service (MDES). Samsung’s mobile payment service is most popular in the country, proven by the fact that Samsung Pay surpassed $33.7 million worth transactions in April 2019.
The latest Samsung Pay Card allows foreign merchants to accept cards registered for overseas payments on the Samsung Pay app. The card can be used globally at all Mastercard merchants equipped with NFC readers. It offers a 5% discount on the payments made via the Samsung Pay app.
Mastercard’s expansion in the Korean market is driven by a strong uptake of digitalization embraced by the region’s economy, which will propel growth for contactless transactions, thereby providing an attractive business opportunity.
Last month, Mastercard co-branded Samsung Pay card was launched in the UK in partnership with the London-based fintech company Curve.
Another company in the same space, Visa Inc. (V - Free Report) , also provides payment services via Samsung Pay, which is supported by its technology, Visa Token Service.
Year to date, the stock has rallied 12.2% compared with its industry’s growth of 4.4%.
Mastercard currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.3% per year.
These 7 were selected because of their superior potential for immediate breakout.
.See these time-sensitive tickers now >>