Samsung recently started Samsung pay in India. Many of us have heard but haven’t used it or have doubts about it. So lets clear our doubts and get our hands on the revolutionary mobile payment system.
What is Samsung pay?
Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that lets users make payments using compatible phones and other Samsung-produced devices. The service supports contactless payments using near-field communications, but also incorporates an electromagnetic transmission system that allows contactless payments to be used on payment terminals that only support magnetic stripe cards.
This helps Samsung pay to work on millions of older non-NFC payment terminals.
How to setup Samsung pay?
Samsung pay is available on select Samsung smartphones. All eligible smartphones get the samsung pay app via an update. Follow the following steps to get register on samsung pay. you need to do this just once.
1. Login with samsung login id and password if you already have samsung id else register to create one.
2. Register your fingerprint or Pin registration. Tap start and then tap fingerprint, follow the on-screen instructions.
3. Alternatively you can use pin authentication by skipping fingerprint and using the pin.
4. Card Registration – You can add upto 10 debit or credit card. Tap add and it will open camera that will auto read the card details.
How to use or make payment?
Making a payment is very simple. Simply swipe up to launch the pay app, from any screen. Choose your card for making payment. Authenticate using fingerprint or pin. Then just tap and pay by placing the card next to card machine and your payment will be made. Samsung pay can be used on both NFC (Near Field Communication) or MST (Magnetic Secure Transmission) machines. You need to place the phone on side of MST and/or on top of NFC machines.
Features
1. Simple – Just setup once and you can pay with ease by just tap and pay.
2. Secure – This is one of the highest secure method of payment. It uses 3 level security, i. The authentication is being done using your finger prints. ii. All transactions use a random token instead of the card number, which means the actual card information isn’t shared while paying. iii. Samsung KNOX, the phone is constantly monitored for vulnerabilities. Even if the phone is compromised, card information is still safely encrypted within a separate and secure data vault.
3. Everywhere – As samsung uses both MST and NFC it is available almost everywhere.
4. Have partnered with PayTm for mobile wallet payment.