A new contactless payment service was unveiled by Samsung, dubbed as Samsung Pay. This digital wallet/payment was first introduced in the recent Mobile World Congress held in Barcelona. Samsung Pay first hand users will be from its hometown, South Korea, where users of the Samsung Galaxy S6 and S6 Edge will be given a chance try this new service by the company as a trial.
This trial phase of their service is like a testing process before they released it to the public to find out if there are still minor issues or problems that may arise when a user used this digital payment service.
Similar with other digital wallet, the Samsung Pay will utilize both NFC (near field communication), NFC card readers and MST (magnetic secure transmission) technology. Similar to American Express Amex Express checkout, the Samsung Pay has an app for you to add multiple cards and the Galaxy S6’s fingerprint reader can be used to authenticate the transaction, but take note instead of card numbers, the system uses tokenization—a one-time payment method for the transaction.
Once it is officially live in the US and South Korea, they will expand this service to other countries.