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 ?
The launch of Samsung Pay early access will enable Emirates NBD customers to register their cards into Samsung Pay and make payments with Samsung eligible devices.
Samsung Pay will debut on the flagship Galaxy S6 and the Galaxy S6 Edge in the US during second half of 2015.
The Samsung Pay app was launched in the UK in March.
Samsung Pay is currently available on a wide range of Samsung smartphones, enabling consumers to make offline payments without the need for a physical Card.
Samsung Pay might simply be made available to flagship devices from the likes of LG, HTC, Google and others.
Staying true to our prominent position as an innovative and dynamic player, we now extend our Samsung Pay solution to ATMs and create an end-to-end contactless process for our customers.
In addition, Samsung Pay also provides consumers in the UAE with a safe, smart, and better mobile wallet," said Mohammad Gharaibeh, Head of IT and Mobiles (B2B) division at Samsung Gulf Electronics.
Samsung Pay leads when it comes to the fraction of people who have Samsung Pay on their phones and have used it for a transaction when they could because the merchant had the right technology with 4.
When asked which of the two solutions they believed would be more attractive to cardholders, 54% said Samsung Pay and 40% said Android Pay.
He said the success of Apple Pay or Samsung Pay in markets with fewer payment cards and where the handset market is fragmented.
Kotak Mahindra Bank (Kotak) and Samsung India (Samsung) are to collaborate to launch Samsung Pay in India.
With Samsung Pay Mini, one can pay for almost anything instantly using UPI and mobile wallets.