Samsung Pay


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Samsung Pay

Samsung's digital wallet payment system introduced in the U.S. in beta in 2015. Supporting credit and debit cards as well as store and loyalty cards, Samsung Pay works with both old and new terminals, whether they read magnetic stripes or use NFC. In 2015, Samsung acquired LoopPay, developers of magnetic secure transmission (MST), which uses a small loop antenna inside the smartphone or in the case to transmit the card data magnetically to the terminal.

To make a payment on a magnetic stripe slider terminal, users position their device over the slider and press a button on the case or tap a button on the app. The first phones with Samsung Pay built in are Samsung's Galaxy S6 and Note 5 models. For earlier Android phones, a card-sized LoopPay module or key fob is available. See mobile payments service.
References in periodicals archive ?
He said the success of Apple Pay or Samsung Pay in markets with fewer payment cards and where the handset market is fragmented.
Samsung Pay is supported by Visa Token Service technology which is designed to enable secure payments with a broad range of connected devices.
Samsung Pay processes payments securely at the register using its proprietary Magnetic Secure Transmission (MST), which enables acceptance with existing mag stripe point-of-sale (POS) terminals, and Near Field Communication (NFC).
Business account holders who are eligible to use Samsung Pay can use their credit or check card.
The service works with Samsung Electronics' mobile payment service Samsung Pay helping drivers pay at gas stations and parking lots.
Given the recent announcements from Samsung and Google in regard to Samsung Pay and Android Pay, the Des Moines, Iowa-based CUSO The Members Group is making preparations to support the various digital wallet solutions consumers will operate from their mobile devices.
Samsung said its new devices would be equipped with Samsung Pay, a contactless payment system, following the success of Apple Pay.
29, 2015 /PRNewswire-USNewswire/ -- Navy Federal Credit Union announced adding Samsung Pay as a mobile payment option for its nearly six million members worldwide.
We are happy that Samsung Pay is leveraging SAP Vehicles Network based on SAP HANA Cloud Platform.
Samsung Pay is on its way - the company began a trial of its mobile payments service on July 15 in Korea with select S6 and S6 Edge owners, in preparation for a full rollout.
27, 2015 /PRNewswire/ -- Today, Blackhawk Network announced its partnership with Samsung Pay, which will allow the integration of gift cards into the Samsung Pay mobile payment solution.
This is yet another milestone in our successful cooperation with Samsung, following the recent launch of Samsung Pay in Europe," said Suzanne Tong-Li, President for Greater China and Korea at Gemalto.