Alfa-Bank (Russia) Announces Samsung Pay Commencement in RussiaAlfa-Bank (Russia) and Samsung Electronics announce the commencement of the Samsung Pay payment service for their clients in Russia. On September 29, 2016, Samsung Pay becomes available for Bank clients — Masterсard holders and owners of Samsung smartphones with features supporting Samsung Pay. Payments are processed Mastercard.
Tatiana Yarmola, Alfa-Bank (Russia) Product and Project Director:
«We believe that the future belongs to contactless payments and want our clients to be the first to access and use most convenient, rapid and safe payment solutions. Alfa-Bank clients have appreciated the advantages of cards issued by the bank in various form factors: not only contactless plastic cards but also AlfaPay watches and bracelets. Indeed, they will welcome the arrival of the new Samsung Pay technology in Russia. We have provided an additional unique opportunity for service users: whenever a client loses one’s plastic card he or she will not lose the money, the lost card can be blocked by means of the Alfa-Mobile mobile bank and the smartphone with the Samsung Pay feature can still be used for shopping worldwide. We are sure that all our clients will value Samsung Pay and additional opportunities offered by Alfa-Bank (Russia).»
Arkady Graf, Samsung Mobile in Russia head
«Samsung Pay was successfully launched a year ago and became a payment method popular with millions of Samsung smartphone users across the globe. The service opens up new opportunities for businesses of various scopes and increases openness in society. We are happy to start working with significant partners and hope to enlarge their number next year for the purposes of a wider choice and topnotch service for users across Russia».
The possibility to download a card on one’s smartphone and to perform transactions using Samsung Pay is provided at Alfa-Bank by the Bank’s processing center on the basis of the SmartVista product family designed by BPC Banking Technologies.
Samsung Pay is a safe and convenient mobile payment service, which can be used for shopping practically wherever regular bank cards are accepted.
IT IS SIMPLE: All that users should do for paying with Samsung Pay is touch a Samsung Galaxy smartphone screen, choose a card and get purchase authorization by means of a fingerprint.
IT IS SAFE: Samsung Pay is based on a solid three-level protection ensuring safe payments: fingerprint authorization (required for every purchase), tokenization and Samsung KNOX. Instead of the card number, a special digital value — a token randomly formed by the payment system at the moment of card activation in the application — is used for making a transaction. Samsung KNOX is an inbuilt security system protecting a smartphone from malware and constantly monitoring possible smartphone vulnerabilities. It safely stores encrypted bank card data on the smartphone by means of a protected container within Samsung KNOX, which is isolated from the operating system.
ACCESSIBLE PRACTICALLY EVERYWHERE: Samsung Pay is accepted practically wherever you can pay with a regular bank card by use of the contactless technology or the magnetic strip. The primary feature of Samsung Pay is that the service supports Samsung’s own technology, MST (Magnetic Secure Transmission), in addition to the NFC (Near Field Communication) technology. This makes the service compatible both with NFC payment devices and payment terminals accepting contact chip or magnetic strip bank cards. As of today, Samsung Pay is supported by such Samsung Galaxy devices as new Galaxy Note7, Galaxy S7 and S7 edge, Galaxy S6 edge+, Galaxy Note5, as well as medium price model segment Galaxy A5 (2016) / A7 (2016).
ABH Holdings S.A. (ABHH) is a privately owned Luxembourg-based investment holding company investing into several banking groups in the CIS and Europe. ABHH includes Alfa-Bank (Russia), Alfa-Bank (Ukraine), Ukrsotsbank (Ukraine), Alfa-Bank (Belarus), Alfa-Bank (Kazakhstan) and Amsterdam Trade Bank N.V.
Alfa-Bank (Russia), founded in 1990, has developed rapidly to become one of Russia's leading privately owned banks. It provides a full range of banking services — corporate banking, retail banking, investment banking, asset management and trade finance.