Since Prime Minister Narendra Modi declared demonetization of INR 500 and INR 1000 rupee notes on the eve of November 8 , India has made a big push for a cashless economy with digital payments and the number of the people using it now is huge comparing it to number of people using digital payment prior to demonetization. At such time Samsung has made a right decision at a right time by pushing it’s own Samsung Pay in the market where a majority of people are trying to use digital payment instead of cash for daily transaction’s in their life .Samsung is also said to have partnered with American Express for its operation’s in India. It might too partner with Visa and MasterCard in future, as it does in other markets.
Samsung recently started rolling out the Android 7.0 Nougat update for some of its devices in India. In this update, the previously missing Samsung Pay app can be found. The phones also show a pop-up notification saying “The future of payments is coming soon!” after you install the update.
It also faces no competition in the NFC-based payment system as of now, as neither Apple nor Google currently offer their own payment system in India. However, being the front-runner, Samsung could face difficulties in getting the merchants to adopt an NFC-based PoS system.What do you think, will Samsung Pay be successful in India? tell us in the comment section.