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How Samsung Pay is fundamentally different from competitors' wallets - read in our article as part of the special project "Mobile Finance"
Samsung Pay is available in 25 countries around the world.
What is Samsung Pay?
Samsung Pay is a mobile payment platform from a Korean smartphone manufacturer 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 over the air.
You can add up to 10 cards of different banks and payment systems to the wallet. And also an unlimited number of discount and gift certificates.
After loading into the wallet, the buyer does not need to get the "plastic" at the checkout. Payment details will be transferred directly from the phone after unlocking it (PIN, fingerprint, iris scan). And the cashier will scan the discount cards from the screen of the gadget.
The buyer pays by bank card
Scan sellerє barcode book kart
What is the difference between the service from Google and Apple Pay?
Samsung's service does have a lot in common with its competitors' payment solutions. In fact, these systems also offer to make a contactless payment from a smartphone, having previously loaded bank cards into the device.
However, if the services of competitors support only one communication channel with a POS terminal (NFC), then Samsung's solution, in addition to the usual contactless contact, offers an alternative - MST (Magnetic Secure Transmission). The principle of operation s similar to the transaction with the use of traditional payment card with a magnetic strip. Therefore, owners of Samsung smartphones, going shopping without a wallet, should not think "Is there a contactless terminal in the store?" You can even pay at the old-style POS terminal .
Pay with MST Magnetic Technology
Which devices support Samsung Pay?
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 more budget A7 and J5 2017, A5 2016 and 2017.
Watches: Gear S2 (only for terminals with NFC), Gear S3 , Gear Fit 2 and Gear Sport. The smartwatch must be paired with compatible smartphones running Android 4.4 KitKat and above. An interesting feature of Samsung watches is that you cannot install payment applications from other companies on them. Therefore, in countries where the payment system has not yet been launched, the brand's watches cannot be used for payments in stores. At the same time, Samsung smartphones are open to third-party payment applications.
Authentication: payments in Samsung Pay can be confirmed not only with a fingerprint and password, as in Google Pay. The built-in iris scanner in Galaxy Note 8, S8 or S8 +, as well as Galaxy S9 and S9 +, will allow you to pay for purchases "with a glance".
Payment by the year
Identification of the supplementary ridge jacket
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.
Samsung Pay in Ukraine
In Ukraine, the service is not yet available, despite the fact that rumors about its launch have been circulating for a long time. So, in 2016, a vacancy for a specialist appeared on the network who will start the payment system on the Ukrainian market. However, the service is still not available in the country. In addition, competing services Apple Pay and Google Pay operate in the country. The editors clarified in PrivatBank (the first financial institution that participated in the launch of Apple and Google mobile wallets in the Ukrainian market) whether it is going to support the Samsung wallet.
We are ready to be the first bank to launch Samsung Pay. But so far we have not received any offers of cooperation.
Let us remind you that in neighboring Belarus and Russia you can already pay through the Samsung Pay application.
Features of Samsung Pay
Samsung Pay Mini
Unlike the full wallet, this wallet has limited capabilities and does not work in all countries where Samsung Pay is available. It allows you to make payments or transfer money directly from your bank account or third-party mobile wallet (without using bank cards). For example, people in India can link their Paytm wallet to their Samsung account. A stripped-down version is available for devices J7 Max, J7 Prime, J7 2016. Later, the lineup will be replenished with other Samsung gadgets.
The main difference between the mini-version and a full-fledged wallet is that in order to pay in a store, you need not just attach your phone to the terminal, but scan a QR code or go through authorization by a phone number.
Cashback
Samsung has added a cashback feature to its mobile payment service. US consumers will be able to earn extra interest on every purchase made at the tech giant's retail partner stores. Exclusive offers from retailers will appear in the new "Cash Back" section.
Samsung Pay online
You can pay with a Samsung wallet not only in traditional stores, but also online. To do this, you do not need to enter your bank card details. Just click on the Samsung Pay button (as well as partner Visa Checkout and Masterpass). Payment is confirmed using a smartphone - using a fingerprint or authorization by e-mail.
In-app purchases
Samsung Pay 2.5 introduces in-app purchases. The Samsung Pay button is built into merchant apps. By clicking on it, the buyer enters his wallet to select a card and authorize using a PIN, fingerprint or iris scan. The service is supported by all Samsung devices running OS 5.0 Lollipop or later. It is not yet possible to split the bill or pay with a gift card.
Samsung Pay is available in 25 countries around the world.
What is Samsung Pay?
Samsung Pay is a mobile payment platform from a Korean smartphone manufacturer 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 over the air.
You can add up to 10 cards of different banks and payment systems to the wallet. And also an unlimited number of discount and gift certificates.
After loading into the wallet, the buyer does not need to get the "plastic" at the checkout. Payment details will be transferred directly from the phone after unlocking it (PIN, fingerprint, iris scan). And the cashier will scan the discount cards from the screen of the gadget.
The buyer pays by bank card
Scan sellerє barcode book kart
What is the difference between the service from Google and Apple Pay?
Samsung's service does have a lot in common with its competitors' payment solutions. In fact, these systems also offer to make a contactless payment from a smartphone, having previously loaded bank cards into the device.
However, if the services of competitors support only one communication channel with a POS terminal (NFC), then Samsung's solution, in addition to the usual contactless contact, offers an alternative - MST (Magnetic Secure Transmission). The principle of operation s similar to the transaction with the use of traditional payment card with a magnetic strip. Therefore, owners of Samsung smartphones, going shopping without a wallet, should not think "Is there a contactless terminal in the store?" You can even pay at the old-style POS terminal .
Pay with MST Magnetic Technology
Which devices support Samsung Pay?
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 more budget A7 and J5 2017, A5 2016 and 2017.
Watches: Gear S2 (only for terminals with NFC), Gear S3 , Gear Fit 2 and Gear Sport. The smartwatch must be paired with compatible smartphones running Android 4.4 KitKat and above. An interesting feature of Samsung watches is that you cannot install payment applications from other companies on them. Therefore, in countries where the payment system has not yet been launched, the brand's watches cannot be used for payments in stores. At the same time, Samsung smartphones are open to third-party payment applications.
Authentication: payments in Samsung Pay can be confirmed not only with a fingerprint and password, as in Google Pay. The built-in iris scanner in Galaxy Note 8, S8 or S8 +, as well as Galaxy S9 and S9 +, will allow you to pay for purchases "with a glance".
Payment by the year
Identification of the supplementary ridge jacket
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.
Samsung Pay in Ukraine
In Ukraine, the service is not yet available, despite the fact that rumors about its launch have been circulating for a long time. So, in 2016, a vacancy for a specialist appeared on the network who will start the payment system on the Ukrainian market. However, the service is still not available in the country. In addition, competing services Apple Pay and Google Pay operate in the country. The editors clarified in PrivatBank (the first financial institution that participated in the launch of Apple and Google mobile wallets in the Ukrainian market) whether it is going to support the Samsung wallet.
We are ready to be the first bank to launch Samsung Pay. But so far we have not received any offers of cooperation.
Let us remind you that in neighboring Belarus and Russia you can already pay through the Samsung Pay application.
Features of Samsung Pay
Samsung Pay Mini
Unlike the full wallet, this wallet has limited capabilities and does not work in all countries where Samsung Pay is available. It allows you to make payments or transfer money directly from your bank account or third-party mobile wallet (without using bank cards). For example, people in India can link their Paytm wallet to their Samsung account. A stripped-down version is available for devices J7 Max, J7 Prime, J7 2016. Later, the lineup will be replenished with other Samsung gadgets.
The main difference between the mini-version and a full-fledged wallet is that in order to pay in a store, you need not just attach your phone to the terminal, but scan a QR code or go through authorization by a phone number.
Cashback
Samsung has added a cashback feature to its mobile payment service. US consumers will be able to earn extra interest on every purchase made at the tech giant's retail partner stores. Exclusive offers from retailers will appear in the new "Cash Back" section.
Samsung Pay online
You can pay with a Samsung wallet not only in traditional stores, but also online. To do this, you do not need to enter your bank card details. Just click on the Samsung Pay button (as well as partner Visa Checkout and Masterpass). Payment is confirmed using a smartphone - using a fingerprint or authorization by e-mail.
In-app purchases
Samsung Pay 2.5 introduces in-app purchases. The Samsung Pay button is built into merchant apps. By clicking on it, the buyer enters his wallet to select a card and authorize using a PIN, fingerprint or iris scan. The service is supported by all Samsung devices running OS 5.0 Lollipop or later. It is not yet possible to split the bill or pay with a gift card.