Mobile Payments: Samsung Pay

Samsung Pay – Overview

Samsung introduces Samsung Pay as “a groundbreaking Mobile Payment Service” and it allows you to make contactless payments in stores. It uses a combination of Near Field Communication (NFC) and its own proprietary Magnetic Secure Transmission technology.

Samsung Pay – Technology

Uses Contactless payment technology
Unique security features
Uses tokenization
Near Field Communication (NFC)
Uses proprietary Magnetic Secure Transmission technology (MST)
Uses fingerprint recognition
Pay using Samsung Pay app – choose your card and pay

Samsung Pay – Devices

Samsung Galaxy S6
Samsung Galaxy S6 edge

Where can it be used?

In stores with contactless payment terminals

Locations

US and Korea initially, from Summer 2015
Later, other locations including Europe and China

More Info

http://www.samsung.com/uk/news/local/samsung-announces-samsung-pay-a-groundbreaking-mobile-payment-service

http://www.cnet.com/uk/news/samsung-pay-takes-on-apple-pay-as-mobile-payments-war-heats-up/

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Mobile Payments: Samsung Pay