Samsung announced at the launch of its ‘Samsung Pay’ payment service that the company was testing the Unified Payments Interface (UPI) integration but now the company is reportedly rolling out the feature to users with the latest update to the Samsung Pay app.
The UPI support comes with an 84MB update (size can vary with device) to Samsung Pay, which shows up as a notification when you open the app and after installation, the respective UPI account can be added by simply following the instructions, Sammobile said in its report.
For those who are unaware, UPI is a nationwide payment service that allows users to easily transfer and receive funds by simply registering their mobile phone number. The service went live in August last year and is interoperable between banks, meaning that the sender and recipient can have an account in any bank and still fund exchange can take place.
With this integration in place, owner of supported Samsung devices will be able to make payments from their bank accounts using UPI service. As users do not need details like IFSC code and name of the bank of the recipient, making funds easier to transfer.
Notably, Samsung Pay service supports both NFC and MST (Magnetic Secure Transmission) and allows a user to send a magnetic signal from smartphone to the payment terminal’s card reader.
The payments service from the South Korean company was launched last month in India and works with most major banks and even Paytm e-wallet.
[“source-ndtv”]
