Samsung will allow you to stop using plastic bank card soon. The company will launch the service payment with the Samsung smartphone toll call. The service will be available in countries very soon.
Some models of mobile brand have technologies that allow communication with POS payment terminals. They are called NFC and MST.
NFC is a proximity communication technology, present in many smartphones currently online. According to Sky, over 70% of the POS card must be compatible with it.
The MST simulates credit card magnetic stripe. That is, NFC payment terminals can operate Samsung smartphones that have this technology transfer data.
After registration of the bank card, user data is encrypted in a compartment Samsung smartphones. To authorize a payment, you can use the fingerprint.
Devices with support for Samsung payment are:
- Galaxy S7 and S7 edge;
- Galaxy A5 and A7 (2016);
- Galaxy Note 5;
- Edge Galaxy S6 +;
Models Galaxy S6 and S6 edge, launched last year, will also support Samsung payment services, but in a limited way. They can only be used with NFC payment terminals. The MST, the company was not approved in the country. With this announcement, Samsung contradicts EXAME.com reported in March this year.
The Samsung Pay now works in
- South Korea
- United States
“With Samsung payment, we carry innovation in mobile payments. With guaranteed by the system Knox, biometrics and tokenization security. The payment is a practical service that can be used anywhere that accepts card payments credit and debit, “said Antonio Quintas, director of mobile division of Samsun.
Santander bank that tests the Samsung payment two months ago, said its multiple cards – with active debit and credit functions – now have service payments support from South Korean manufacturer to launch shortly phase.
“The European market is one of the largest markets for electronic means of payment in the world. We are used to the cards, guarantees, prepaid cards, individual cards, among others. There is a global movement, not only payments, but emigrating to many day-to-day experiences for the mobile world. we have an example of the taxi, now order and pay by mobile. When you go to the movies, a reservation is made and paid for the application. we will see more and more is an inevitable trend “according to Rodrigo Cury, executive superintendent of cards Santander area.
An important issue is the formation of commercial establishments attendees to pay with mobile phones. “There is the issue of culture and the formation of tenants. This will be gradual, with increasing use of this method,” said Mark , director of Porto Seguro cards.
Samsung says it will train retailers to know how to process a purchase paid with Samsung Pay.
According to the forecast consulting TrendForce, Apple and Samsung can lead the way segment of mobile payments.