Banking-as-a-Service platform Solarisbank has partnered with Samsung Electronics and Visa to bring mobile payment solution Samsung Pay to Germany.
After successful registration for Samsung Pay, the user receives a virtual Visa debit card that can be linked to almost any German bank account. This is the first time that Visa is enabling this service in Europe. To connect Samsung Pay to a personal bank account, Solarisbank uses a KYC process which does not require a video identification or branch visit. Samsung Pay also includes Solarisbank’s new instalment product Splitpay. Purchases over EUR 100 can be converted into instalments and paid over a period of up to 24 months.
Dr. Roland Folz, CEO of Solarisbank, commented “We are thrilled to enable Samsung to provide financial services in Germany, as we believe the future belongs to those who leverage the potential of contextual finance. This partnership demonstrates the innovative strength of our product and tech platform and paves the way for further accelerated growth. Samsung is not only one of the most valuable brands in the world, but also a role model in embracing customer-centricity with innovative products such as Samsung Pay.“
