Samsung Pay is providing greater flexibility and possibilities to consumers in France.
For the first time in France, PCS MasterCard prepaid card users can make mobile payments through Samsung Pay.
Samsung Electronics France recently partnered with French card issuer Prepaid Financial Services to allow its fleet of PCS Mastercard prepaid cards to be loaded onto the Samsung Pay wallet.
PCS Mastercard prepaid products that can be used on Samsung Pay include:
- PCS Black
- PCS Chrome
- PCS Virtual
The tokenization security for the cards will be offered through MasterCard’s digital enablement services. It uses biometric identification, or a PIN code, and data encryption provided through Samsung Knox.
Understanding the Payment Arrangement
The Samsung Pay-PCS payment method is an unrestricted payment solution that is available and reloadable online at 32,000 stores across France.
This method offers a number of benefits, including making it easier for users to make payments while traveling without transmitting details about their banking information.
Cardholders will now be able to make payments without having to pull out their cards. Also, PCS cardholders will receive notifications of their purchases immediately when they use Samsung Pay.
More than a half million prepaid cardholders could potentially benefit from the Samsung Pay option, according to reports.
What This Means for France
The of smartphone users in France was estimated to reach 43.35 million in 2017, according to the statistical portal, Statista. The number of smartphone users worldwide are projected to exceed 2 billion users by that time. From 2015 to 2022, the number of smartphone users is projected to climb by 68 million users.
Samsung recognized the potential and took the leap. Now that it has happened, expect other wallets to follow its lead. Once the ground is broken, many other mobile wallets will be waiting and line to provide other options for consumers.
As a larger number of consumers demand the ease of mobile payments, wallets have no choice but to fall in line and make themselves available. Most merchants, fintechs, and other players realize the importance of mobile payments and will do their best to remain competitive.
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As the mobile payment movement continues, merchants need to follow suit. If you are a business in need of a merchant account or credit card processing, then contact eMerchantBroker.com. It offers payment solutions for all types of companies, including those categorized as high risk.
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