Mobile payment systems are getting more popular thanks to the launch of services like Apple Pay, Android Pay, and Samsung Pay. While most systems will rely on NFC technology so that a tap of the smartphone near the terminal will make the payment, Samsung made its system more compatible as it also supports Magnetic Secure Transmission (MST). This technology sends the same magnetic code that the terminal would get from a credit card, so basically wherever you can pay with a credit card, you could use Samsung Pay. Some of the compatible smartphones are the Galaxy S6, Galaxy S6 Edge, plus the recently announced Galaxy S6 Edge+ and the Galaxy Note 5.
The service will launch on September 28 in the US and Samsung has created a video to show how it will work. A bunch of shopping scenarios can be seen in the video, from grocery shopping to clothing and desserts all of them in a very upbeat version of The Sound Of Music’s “My Favorite Things”. Also, a variety of credit card terminals can be seen, showing the versatility of their system. This video belongs to the “It’s not a phone, it’s a Galaxy” campaign, so an iPhone appears and it’s unable to complete the transaction at a traditional credit card reader, then a Galaxy S6 Edge+ appears, it is able to make the payment on the same terminal and the party goes on. It ends with the tagline “The most accepted mobile payment” and then the slogan of the campaign makes an appearance too.
Only the four aforementioned handsets currently support Samsung Pay and is only compatible with selected cards, although by supporting terminals that don’t require to be upgraded the service could end up being more popular than Android Pay, at least on the compatible Samsung devices. The company should work fast to get as many banks and partners as it can in order for it to work, otherwise, users might end up using another service even on those devices or the experience might get affected if they have to use two services. We will have to see which service offers more benefits to consumers to boost the usage of mobile payments.