Samsung Wallet: Cashless transactions made easy with QR

Samsung is collaborating with the Bank of Korea, and the Korea Financial Telecommunications & Clearing Institute to debut mobile cash card services to Samsung Wallet.

This MoU will pave the way for the three parties to cooperate for the stable integration of mobile cash card services with Samsung Wallet across South Korea.

Through this MOU, Samsung Wallet users will be able to use ATMs of 17 South Korean banks participating in the mobile cash card business, expanding the coverage from 10 banks.

The 17 banks will allow cross-bank transactions and convenience store ATM use. The service method will also be expanded from the existing NFC communication method to the QR code.

Samsung Wallet users will also be able to use offline commerce payments and accumulate change generated from commerce transactions without a physical cash card.

Users of the Wallet app will have a better experience with cash deposit and withdrawal services. In the future, Samsung Wallet mobile cash cards can be used as follows:

• Users can issue a mobile cash card by running the “Add Item” menu in Samsung Wallet, selecting a mobile cash card, verifying their identity, and entering the account number to be linked and setting a password.

The South Korean tech giant is committed to continuously expanding user experience by introducing a wider range of financial functions to Samsung Wallet.