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Mobile wallet major MobiKwik has integrated its wallet into Samsung Pay Mini, a mobile payment platform focussed on Samsung’s budget and mid-range phones.
Samsung Pay Mini is designed to cater to the unique requirements of Indian mid-segment consumers.
The tie-up will enable one-tap payments at more than 1.4 million MobiKwik-powered merchants pan-India. Alternatively, users just need to do one swipe and a click to scan and pay immediately at these merchants, improving convenience for them.
MobiKwik will also be available soon on Samsung Pay, which is the proprietary mobile payment platform for Samsung’s high-end phones.
Twin benefitsElaborating on the integration with Samsung Pay Mini, Daman Soni, Head of Growth at MobiKwik said the tie-up has twin benefits for the mobile wallet company.
“First, this will improve payment experience and coverage for MobiKwik’s current wallet users. Second, this acts as a user-acquisition strategy because Samsung is going to be rolling out this (Samsung Pay Mini) to more mass market phones. It will then become fairly easy for Samsung device owners to discover MobiKwik services,” Soni told BusinessLine .
Over the next 30 days, nearly 3-5 million new mass market phones with Samsung Pay Mini capability are expected to be rolled out, according to Soni. “This is going to widen my (MobiKwik) user base. I am more excited about Samsung Pay Mini than Samsung Pay. MobiKwik will very soon be on Samsung Pay also,” he said.
Samsung Pay Mini is now available on Samsung eligible devices including J7 Max, J7 (2016), J7 Prime, On Max and On Nxt.
Soni said the future of digital payments in India will thrive only by collaborating with various ecosystem partners to drive acceptance.
Unified interfaceSamsung Pay supports both Near Field Communications and Magnetic Secure Transmission technologies. There is unified payment interface support in both Samsung Pay and Samsung Pay Mini.
Samsung Pay, which brings the ability to make payments with phone, was launched in India in March this year. It comes with fingerprint authentication, encryption and KNOX, making a secure payment platform that offers peace of mind to consumers.
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