HomeServicesMobile MoneySamsung Pay: the New Mobile Payment Service Launched by Samsung

Samsung Pay: the New Mobile Payment Service Launched by Samsung

Jumia Black Friday Deals

A little back, in February this year, Samsung had bought LoopPay now it is known as Samsung Pay. So with this inclusion in the vast market covered by Samsung, they are now getting ready to take on the mobile payments race.

Samsung Pay hardware is already available, predominantly in the Samsung Galaxy S6 but work still needs to be done on the software part. The cloud computing part of the deal also needs to be addressed.

But Samsung has shown good commitment to this project as they have officially announced on their blog that Samsung Pay trials have begun in its hometown of South Korea.

Samsung is also in the process of sending out software updates to select Galaxy S6 customers to use and offer feedback on their new mobile payment system.

The company is claiming the service will be compatible with NFC-enabled payment terminals as well as standard credit card holders.

They have also shared some information on how Samsung Pay will work.

Magnetic Secure Transmission (MST) will to used by the app to beam data contained in the magnetic strips of credit cards wirelessly to the card-based terminals’ strip reader using magnetic fields.

Which confirms that the service will be compatible with existing infrastructure at most stores.

Users will pay for their purchases by holding their Samsung devices near a terminal and transactions’ authorization will be done via a fingerprint scan.

The Samsung Pay app will support up to 10 credit cards and will also hold a history list of transactions made by each of those cards.

There isn’t any official date for the launch for Samsung Pay in the international market, but it should be soon enough.

You may also be interested on How to Open and OPay Account.

Latest articles

Will ChatGPT Take My Job? Expert Reveals The Five Professions At Risk

The more capable AI becomes, the more you might begin to worry about a...

Best Valentine’s Day Gifts Ideas

Looking for a great Valentine's Day gift for your loved one? You are in...

Best Web Hosting Services for Small Business in 2024

The online presence of your business is as vital as any physical storefront or...

8 Reasons to Buy the Oppo Reno 11 5G

Are you in the market for a new smartphone? Look no further than the...

10 Key Features of the Tecno Spark 20 Pro Plus

Tecno has introduced the top of the line member of its latest Spark Series....

How to Open OPay Account for Seamless Banking

OPay is a leading mobile banking and payment platform that allows you to make...

SpaceX launches First Starlink Direct to Phone Satellites

SpaceX has announced the launch of its first set of direct to cell satellites...

More like this

How to Open OPay Account for Seamless Banking

OPay is a leading mobile banking and payment platform that allows you to make...

MoMo Bill Payment: What it is and why to use it

Payments are a necessity for both individuals and businesses. The need to make payments...

Kuda Launches COVID-19 Relief Fund with US$1,300, Calls for Assistance

Kuda – which started in 2016 as Kudimoney – has dedicated a fund to...