Samsung Pay is a digital mobile payment application which lets users make transactions for almost all the existing credit cards and mobile payments. It also offers digital wallet service. The app was released on August 20, 2015, and is available for download in Samsung’s Galaxy series of smartphones. It can be downloaded on Galaxy S6 and newer smartphones in the Galaxy series and also some of the Galaxy watches. With the Samsung Pay, you can transfer money to any account easily with just a few taps. The mobile wallets like Samsung Pay make it very easy to make payments. You simply need to tap your phone on the swipe machine instead of physically handling your card to the merchant. It works on almost everywhere, which makes it more superior than Google Pay and Apple Pay.
Working of Samsung Pay
Samsung Pay has two different technologies that allow the app to work in almost every environment. They are as follows:
The first one is MST (Magnetic Secure Transmission) which got introduced in Samsung Pay when Samsung acquired a mobile payment company LoopPay which developed this MST technology for Samsung Pay later on. This technology is generally used in older terminals where you normally do the transaction by swiping up the card. The phone emits a magnetic signal to imitate the magnetic strip which is there on the back of the card when you hold your phone against one of the cards reading terminals to make the payment.
The other one is NFC (near-field communication) which is far more advanced than the Magnetic Secure Transmission technology. It is a new payment procedure for tap-to-pay transactions at contactless terminals.
How to Setup Samsung Pay on Your Device
Generally, all the compatible devices come with a pre-installed Samsung Pay application. However, if for some reason, you are not able to locate the app on your device, you may download it from the Samsung store. Once the app is installed, open it and sign in with your Samsung account and enter the PIN, Iris Scan or Fingerprint depending upon your choice of the level of security you want. After that, add the debit, credit, membership or gift card as per the availability and proceed. You can also add your PayPal account if desired. You can add up to ten cards on your Samsung Pay account.
Once you have added a card, Samsung Pay will clarify the entered details with the concerned bank, and you will receive a confirmation accordingly once your details are confirmed. In the meanwhile, during the entered detail confirmation process, you will receive an SMS, Phone Call or an email for the confirmation of your details.
How to Make the Payment Through Samsung Pay
Once you have added the card, to make the payment with the Samsung Pay, click on the Samsung Pay icon and select the card from which you want to make the payment. Samsung Pay will ask your confirmation, and you will have to do it by placing your finger on the fingerprint scanner, use Iris Scanner, or enter your PIN to verify. Then simply tap the back of your device against the swipe machine or vending machines to make the payment. Once the payment is confirmed, you will receive the notification regarding it, in which the details of the merchant and the amount deducted from your account will be visible. You can also make the payment through the watch. It can be done by simply launching the Samsung Pay app on the watch and then tapping the watch against the payment machine just like the earlier process.
Availability of Samsung Pay in Different Countries
Currently, Samsung Pay is providing its service in twenty-seven major countries of the world. Some of those countries are the United States, UK, Australia, Canada, Russia, South Africa, UAE, Singapore, Mexico, Spain and many more. Almost every major carrier like Sprint, MetroPCS, AT&T, Verizon and many more support Samsung Pay. To make the payments through Samsung Pay, you will require an American Express, Visa, Discover or MasterCard.
Where Can Samsung Pay Be Used
Generally, it won’t work at places like ATMs or machines at gas stations where you need to insert your card physically. However, Samsung’s system setup will work with almost all major point-of-sale, as claimed by Samsung. It claims that its system works well on Magnetic Stripe, NFC, Europay, MasterCard and Visa terminals for chip-based cards. In total, Samsung Pay is widely accepted almost everywhere around the world, including the public transit systems that include TriMet in Poland and MTA’s OMNY system in New York.
Source : Samsung Pay
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