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Samsung Pay

In an economy that is steadily moving from cash payments to digital payments especially after demonetization, companies launching their own mobile payment services is the natural next step in digitization of economy. One of the newest mobile payment services that has been launched is the Samsung Pay by Samsung.

This application is nothing but a digital payment option and works only with Samsung devices, and is also one of the most popular payment services across the world. As of now, this app is available in countries such as China, Russia and U.S.A apart from India. Customers can utilise this app to pay for their purchases through debit and credit cards without having to carry them. Customers can add in their card details and pay through any POS machine. Another advantage that can be availed is that Samsung has integrated Paytm so as to make payment a lot more convenient for users. UPI integration is also being worked on.

Samsung Pay Set Up

  • Individuals will have to first avail the Samsung ID and password through the Samsung account. This account will also have to be added to the phone.
  • It is best to ensure that all updates have been made. Individuals will then have to click on the Samsung Pay icon and install it.
  • Individuals will have to complete the registration and provide their fingerprint or PIN.
  • The necessary cards can then by added and payments can be made through that.

Features and Benefits of Samsung Pay

This app uses the MST which is Magnetic Secure Transmission and NFC which is the Near Field Communication technology. Card details will be stored in the app and more than one card can be added. In order to pay, customers canopen the application and select a card with which to pay. PIN or fingerprint will be required for the payment to be processed. Payment will be the same as the credit or debit card PIN. This application can be utilised at any shop that has a swipe machine and is also very convenient. Since this app also comes with MST technology, most card swiping machines can be used. This app is also secure and extremely fast.

This app is currently supported by only Galaxy S7, Galaxy S7 Edge, Galaxy Note 5, Galaxy A5 (2016 and 2017), Galaxy A7 (2016 and 2017), Galaxy S6 Edge+.

Samsung Pay currently supports most cards such as Standard Chartered, State Bank of India, HDFC Bank, etc. Paytm mobile wallet can also be utilised.

Due to the numerous advantages offered by this app, Samsung users are advised to avail this at the earliest.

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