Samsung’s new mobile payment system, Samsung Pay, is now available in the US. Samsung launched their new service in the US yesterday, marking a significant step in the mobile payment industry.
Samsung Pay is only available on certain Samsung devices at the moment and only with some of the US mobile carriers. This selective availability is part of Samsung’s strategy to ensure a smooth and secure rollout of their payment system.
Supported Devices and Carriers
In order to use Samsung Pay, you will need either a Galaxy Note 5, a Galaxy S6, Galaxy S6 Edge, or Galaxy S6 Edge+ on one of the supporting mobile carriers. These devices are equipped with the necessary hardware and software to support Samsung Pay, including Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies.
The mobile carriers which support Samsung’s mobile payment in the US include AT&T, T-Mobile, Sprint, and US Cellular. Unfortunately, Verizon Wireless does not support the service at this time. This means that users on Verizon will have to wait or switch carriers if they wish to use Samsung Pay.
How Samsung Pay Works
Samsung Pay is designed to be a versatile and secure mobile payment solution. It uses both NFC and MST technologies to enable payments at a wide variety of terminals. NFC is commonly used in contactless payment systems, while MST allows Samsung Pay to work with traditional magnetic stripe card readers. This dual-technology approach means that Samsung Pay can be used at almost any payment terminal, making it more widely accepted than some other mobile payment systems.
To use Samsung Pay, users simply need to swipe up from the home button, select the card they wish to use, and authenticate the transaction with their fingerprint or PIN. The phone then transmits the payment information to the terminal using either NFC or MST, completing the transaction quickly and securely.
Security Features
Security is a major concern for any mobile payment system, and Samsung Pay incorporates several features to protect users’ information. Each transaction is authorized with a fingerprint or PIN, ensuring that only the device owner can make payments. Additionally, Samsung Pay uses tokenization to protect card information. Instead of transmitting the actual card number, Samsung Pay generates a unique token for each transaction, which is useless if intercepted.
Samsung Pay also includes Samsung Knox, a security platform that monitors the device for malware and other threats. If any suspicious activity is detected, Samsung Knox can disable Samsung Pay to prevent unauthorized transactions.
Future Expansion
Samsung has plans to expand Samsung Pay to more devices and carriers in the future. As the service gains popularity, it is likely that more devices will be added to the list of supported models, and additional carriers may begin to support the service. Samsung is also working on expanding Samsung Pay to other countries, with launches planned in several markets around the world.
Samsung Pay represents a significant advancement in the mobile payment industry. With its combination of NFC and MST technologies, it offers a versatile and widely accepted payment solution. The security features built into Samsung Pay provide peace of mind for users, ensuring that their information is protected. As Samsung continues to expand the service, it is likely that Samsung Pay will become an increasingly popular choice for mobile payments.
You can find out more details about Samsung’s mobile payment system over at their website at the link below.
Source Samsung Pay
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