With recent UK contactless spending limits increased to £100, Samsung Pay urged caution and updated consumers on how they can safeguard themselves from fraud.
Seeking to boost convenience and maximise security, the firm allows users that have already been able to pay above the £100 contactless limit to get all the convenience of tap to pay with every transaction, regardless of the amount, and authenticated by the customer in the form of fingerprint or PIN, making it more secure than paying by a traditional bank card.
Commenting on the benefits and safety of mobile payments for customers, Teg Dosanjh, Director of Connected Services and Technology, Samsung UK and Ireland, said: “As we start spending again after the extended lockdown we’ve had, there are some great deals to be had, but it’s important not to forget payment safety when we’re out shopping.
“We’re a nation of tech savvy spenders and we want the flexibility of being able to pay, however, and whenever we choose. We know this is true as two thirds of people we surveyed said they now prefer using mobile wallets over their traditional plastic card, which is double the number from last year (30%). And as an extra incentive for customers shopping on Samsung.com, customers are guaranteed 5% cashback – only available with Samsung Pay+.”
The group underlined that with 60% of people are still using their traditional bank cards to make contactless payments, it remains concerning that over a third of people weren’t even aware of the spending limit increase in the first place, leaving them potentially exposed to fraudulent activity.
Expert Analysis: For SamsungPay to elevate a focus on combating fraud as the contactless limit is increased, whilst also maintaining the efficient and smooth user experience will undoubtedly be seen as a welcome move for consumers – especially as the retail sector continues to evolve and reopen up.