Samsung Pay is a mobile payment platform of the Korean manufacturer of smartphones that allows you to make payments with one touch. To pay for the goods, you don’t even need to touch the payment terminal with your smartphone. Thanks to contactless communication, the transaction will literally go through the air.
You can add up to 10 credit cards of different banks and payment systems to your wallet. As well as an unlimited number of discount and gift certificates.
After loading into the wallet, the buyer does not need to get a plastic card at the checkout. Payment details will be transferred directly from the phone after it is unlocked (PIN, fingerprint, scan of the iris). And the cashier will scan the discount cards from the gadget’s screen.
What is the difference between this service from Google and Apple Pay?
Samsung service really has a lot to do with competing payment solutions. In fact, these systems also offer to make a contactless payment from a smartphone, after downloading bank cards to the device.
However, if competitors' services support only one channel of communication with a POS terminal (NFC), then Samsung's solution, besides the usual contactlessness, offers an alternative - MST (Magnetic Secure Transmission). The principle of operation is similar to a transaction using a traditional magnetic stripe payment card. Therefore, owners of Samsung smartphones, going shopping without a wallet, should not think, “Is there a contactless terminal in the store?” You will be able to pay even in the old-style POS-terminals.
Samsung, like Apple Pay, can only be used on devices of the same manufacturer.
- Smartphones: Galaxy Note 8, S8 / S8 edge, S7 / S7 edge, S6 / S6 edge, S6 edge +, as well as in the more budget A7, J5, A5 2016. All newer models also support the service.
- Clock: Gear S2 (only for terminals with NFC), Gear S3, Gear Fit 2, Gear Sport and later models. A smartwatch should be paired with compatible smartphones running Android 4.4 KitKat and higher. An interesting feature of Samsung watches is that it is impossible to install a payment app of other companies on them. Therefore, in countries where the payment system has not yet been launched, the brand’s watches cannot be used for settlements in stores. At the same time, Samsung smartphones are open to third-party payment apps.
Where does Samsung Pay work?
More than 650 banking institutions in 25 countries support Samsung Pay. Among them are Chase, Citi, HSBC and Wells Fargo. The list of countries and banks is constantly expanding.
Spain became the first country in Europe where users can make payments using the Samsung mobile payment service. CaixaBank, one of the leading Spanish banks, signed an agreement with Samsung, which will enable Samsung Pay to be included in the range of mobile payment services of the bank.
This is a very convenient service for residents of Europe because right after obtaining an online credit you can use the funds even without having a card with you.
UniCredit Bank in partnership with Samsung launched Samsung Pay in Italy. Bank customers in the country are able to add their cards to the app and make payments with Samsung smartphones too. To do this, simply unlock the phone, authorize the payment using a fingerprint, iris or PIN code and bring the smartphone to the POS terminal.
In France, the service is presented by one of the largest French banks – BPCE. Customers of Banque Populaire and Caisse d’Epargne branches can use it.
The service is also available for residents of Sweden, the UK, Switzerland, Russia and other countries.