Mobile Payments: Samsung Pay

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/