On March 29, 2016, ICBC officially announced its support for Samsung Pay, becoming one of the first banks to support Samsung Pay service. Upon the launch of Samsung Pay, ICBC's credit cardholders will be the first to access Samsung Pay service on the latest Samsung mobile devices, which offers an extensive, secure and convenient mobile payment experience.

Samsung Pay is a mobile app launched by Samsung to provide a convenient and secure platform for mobile payments. It enables users with the Samsung Pay feature to securely manage and use their bank cards on mobile phones and other mobile devices, and enjoy easy payment via fully optimized operation on the mobile phone. By virtue of its extensive coverage, security and convenience, Samsung Pay has been widely received and become a fashion when launched in Korea and the United States.

Mobile payments seen rapid growth in recent years. In adapting to the innovative trends in mobile payments, ICBC has used innovative technology in the financial sector to launch the “Cloud Quick Pass” service in collaboration with China UnionPay in 2015 as an effort of e-ICBC strategy. It represents a full-function mobile payment product developed by a Chinese commercial bank and genuinely based on mobile phone, integrating the world's cutting-edge technologies including NFC, HCE, TSM (trusted service manager) and Token. It creates a new service pattern of instant need, instant response and instant solution, and supports both "near field" card-waving payment and "far field" online payment, offering a more intelligent, secure, fashionable, and convenient mobile experience for consumers. ICBC's support for Samsung Pay will further expand the "Cloud Quick Pass" family and provide a new way of mobile payment for ICBC credit cardholders. In addition, the increasingly popular ICBC e-Buy is the best choice for customers to buy Samsung mobile phones, as it provides quality assurance and a maximum of 24 interest-free installments for payment.

With wide coverage and security as the core advantages, Samsung Pay supports the innovative MST (magnetic secure transmission) technology, and combined with NFC, it can be used for POS terminals supporting “Cloud Quick Pass” and for traditional card-based POS terminals. As such, it can be used in most offline merchants with a POS terminal and gives Samsung Pay users a real "barrier-free acceptance" experience.

Regarding security, users' top concern, Samsung Pay secures the payment by fingerprint authentication, Token and KNOX, Samsung's exclusive mobile security solution. During payment, the dynamically changing Token replaces the physical bank card, avoiding the leakage of card information; and KNOX allows Samsung Pay to be secured at both hardware and software levels. If your phone is lost, you may use "Find My Mobile" feature on Samsung' website to remotely delete data and information on your phone.

From traditional POS payment to NFC non-contact fast payment, every evolution of the credit card payment industry relies on technology and innovation. Looking ahead, as a forerunner and leader of payment innovation, ICBC will build a mobile payment product system consisting of offline near-field non-contact payment and online far-field one-key payment, develop a portfolio of mobile payment products covering all forms and all operating systems, and boost substantial progress in autonomy, convenience and security of payment.