"With this collaboration, ~130 million SBI Debit Cardholders will be able to tap and pay using a wide range of Samsung smartphones at merchant outlets having Card acceptance machines", SBI said.
According to the report, Samsung Pay now works on 2.5 million point of sales (POS) machines.
Samsung Galaxy J7 Pro is now available for purchase for the Indian consumers at a price of Rs 20,990 via company's e-store.
The payment business is seeing a lot of competition, with banks trying to protect their traditional role and new generation companies like Samsung, Apple, PayTM and Airtel trying to muscle their way in. SBI being India's National Bank has a highest number of bank customers in India. To help more consumers avail of our innovative payment system, we have also introduced Samsung Pay to our mid-segment smartphones like Galaxy J7 Pro.
Going by the existing speculations, the Samsung Galaxy C7 (2017) is likely to arrive with a 5.7-inch FHD 1080p Super AMOLED display.
Next's directory sales surges as high street arm continues to suffer
He said: "Consumers are very cautious - real earnings are moderately down because wages aren't rising as fast as inflation". The statutory total sales are understated as a result of a delay in the timing of Directory end-of-season Sale despatches.
Samsung China launched the official support page for the Galaxy C7 (2017) earlier this week, heavily suggesting that the upcoming mid-ranger is set to be released in the Far Eastern country in the immediate future.
According to Rajnish Kumar, managing director at SBI, the bank has 270 million active debit cardholders, of which 130 million cardholders will be immediately eligible to make payments through Samsung Pay. MST creates a dynamic magnetic field between the smart phone and the payment terminal's card reader.
The device also comes with support for company's Pay Mini mobile payment service.
The extension of Samsung Pay shows that India is actively embracing technological advancements.