A number of studies have shown a steady increase in the amount of money spent using mobile wallets across the world. As a new payment system, mobile wallets enable customers to make purchases and payments without using their debit/credit cards physically. The customers can use mobile wallets to store their debit/credit card information in digital format, and make payment using their mobile devices. Each customer has option to choose from several mobile wallet services.
Samsung Pay is a mobile payment and digital wallet service that enables users to make payment using specific devices manufactured by Samsung Electronics. A customer can use Samsung Pay to make payment simply by waving their Samsung smartphone or tablet near a cash register. The mobile app developers can enhance the user experience delivered by the mobile apps by allowing users to make payment through Samsung Pay.
Understanding Important Aspects of Samsung Pay
Mobile Payment Service
Samsung Pay is a mobile payment service launched by Samsung Electronics. It enables users to make payment without swiping their debit or credit card at the cash register. The users can make payment simply by waving their Samsung smartphone near the cash register. Hence, they are not required to reveal their sensitive payment information. Samsung has formed strategic partnership with multiple banks and card networks to enable users to make payment using its mobile payment service without any hassle or inconvenience.
Available to Selected Models of Galaxy Smartphone
At present, Samsung Pay is available to specific models of Samsung Galaxy smartphones. Samsung further requires users to use its mobile payment system through particular carriers. Likewise, the users can store details of Visa, MasterCard, or American Express. Samsung has also partnered with several banks to facilitate payment using its mobile payment service. However, the carrier, banks and payment companies differ from one country to another.
Works with Swipe-Based Card Machines
A customer can use Samsung Pay at any regular swipe-based card machines or point-of-sales machines. If the point-of-sales machine supports near field communication (NFC), it will facilitate payment by creating a high frequency network between the payment terminal and mobile device. On the other hand, the point-of-sales machine supporting magnetic secure transmission (MST) will facilitate payment by creating a dynamic magnetic field between the Samsung smartphone and card reader of the payment terminal.
Design Rule
Samsung Pay is designed with features to enable users to make payment without using their debit or credit cards physically. It facilitates payment by generating a 6-digit token number for payments based on the scanned image of the debit/credit card. However, the mobile payment system generates the 6-digit token number for payments randomly for each transaction, and without using the debit/credit card number. Hence, the users can make payment for a variety of products or services simply by waving their Samsung Galaxy smartphone near the cash register.
Use
As noted earlier, Samsung Pay is currently available on specific models of Samsung Galaxy smartphone. Hence, a user can make payment with Samsung Pay only if he is using a compatible device. But he can use Samsung Pay to make payment for a variety of goods and services at various retail outlets without using his debit/credit card physically. After configuring Samsung Pay, he can make payment simply by waving his smartphone at the cash register.
Further he can use Samsung Pay by following three simple steps – tap the Galaxy smartphone on a point-of-sales machine that supports NFC, select the specific card, and authenticate the transaction. Each user can authenticate the transaction by entering a four-digit PIN or scanning his fingerprint.
Security
Samsung implement three levels of security to keep Samsung Pay transactions secure. It requires users to authenticate the transaction by entering a four-digit pin or scanning their fingerprint. The company further uses Samsung KNOX to store card information in encrypted format. Also, the mobile wallet service hides the debit/credit card information by generating a random token for each transaction.
However, Samsung plans to roll out its mobile payment and digital wallet service gradually. Hence, Samsung Pay is currently available in specific countries. Likewise, the mobile wallet service is available to specific models of Samsung Galaxy smartphones. Hence, mobile app developers need to ensure that the mobile app allows users to choose from a number of mobile wallet services including Samsung Pay.
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