Samsung has just launched their mobile payment service in India, and you need to get your hands on it. Ladies and gentlemen, here’s introducing Samsung Pay.
Samsung Pay is a mobile payment service, nothing like you have ever seen before. With Samsung Pay, you can leave behind your wallet and credit cards at home. What it does is, it allows you to load your credit card information into your phone and use them on the go. All you need to do is select which card you want to use, use your finger print as authentication, hover your phone over any standard card reader, and voila, payment done!
Yes, it’s contact-less. Isn’t that cool!
Samsung Pay’s big win is that it uses a technology called Magnetic Secure Transmission (MST). This means that any standard credit card reader, used in any of the regular stores and restaurants that you go to, can read your payment information from your phone. This is huge for Samsung as this automatically makes them the most widely accepted mobile payment service.
Yes, you can use it almost anywhere – from your next shopping spree to your birthday dinner, it works everywhere!
But ofcourse, the one key question which comes to everyone’s mind with mobile payments is – Security.
1) All payments that you make, needs to be authorized by scanning your fingerprint or entering your Samsung Pay PIN.
2) Next in line is Digital Tokenization. Samsung Pay does not use your actual card number. All transactions use a random token instead of the card number, which means the actual card information isn’t shared while paying and the details stay confidential.
3) With the Samsung Knox feature, the phone is constantly monitored for vulnerabilities. Even if the phone is compromised, your card information is still safely encrypted within a separate and secure data vault.
Simple to use, quick and completely secure.
Go ahead, try it out and let us know how you liked it!