In recent years, online payments and digital wallets have become the norm for shoppers all over the world. One such digital wallet that has quickly gained popularity is Samsung Pay. Samsung Pay is a mobile payment service that allows users to make payments using their Samsung mobile devices. Samsung Pay uses a technology called Magnetic Secure Transmission (MST) and Near Field Communication (NFC) to work seamlessly with any merchant terminal that accepts magnetic stripe cards and contactless payments. In this article, we will delve into the workings of Samsung Pay and how it has revolutionized mobile payments.
Magnetic Secure Transmission (MST)
Magnetic Secure Transmission (MST) is a proprietary technology developed by Samsung that enables users to make payments with their mobile devices by mimicking a magnetic stripe card. MST emits a magnetic signal that is received by the card reader of a merchant's terminal, thereby creating a connection between the two devices. This connection is then used to transfer payment information from the mobile device to the merchant's terminal. MST works with traditional magnetic stripe card readers as well as with NFC-enabled readers, giving users more flexibility and versatility when making payments.
Advantages of MST
- MST works with older card readers that do not support NFC, opening up more payment options to the user.
- It is more widely accepted by merchants since it works with any terminal that accepts magnetic stripe cards.
- MST transactions are more secure than traditional magnetic stripe cards since the card information is encrypted and transferred securely.
Near Field Communication (NFC)
Near Field Communication (NFC) is a wireless technology that allows two devices to communicate with each other when they are in close proximity. NFC is used by Samsung Pay to enable users to make contactless payments. When a user holds their Samsung mobile device close to an NFC-enabled terminal, the terminal and the device create a connection and transfer payment information from the device to the terminal. NFC technology is used in other mobile payment services such as Apple Pay and Google Wallet.
Advantages of NFC
- NFC technology is faster than traditional magnetic stripe cards since it does not require the user to swipe a card or enter a PIN.
- It is more secure than traditional magnetic stripe cards since the card information is encrypted and transferred securely.
- NFC payments can be made using mobile devices such as smartphones and watches, making it convenient for users to make payments on-the-go.
How Samsung Pay Works
When a user adds their payment information to Samsung Pay, it is securely stored on their mobile device and can only be accessed with a PIN, iris scan, or fingerprint. When the user wants to make a payment, they simply open the Samsung Pay app on their mobile device, select the card they want to use, and hold it close to the merchant's terminal. If the terminal supports MST, Samsung Pay will transmit a magnetic signal that mimics a magnetic stripe card. If the terminal supports NFC, Samsung Pay will use NFC technology to make a contactless payment. Once the payment is completed, the user will receive a notification on their mobile device confirming the transaction.
Advantages of Samsung Pay
- Samsung Pay works with any merchant terminal that accepts magnetic stripe cards or contactless payments, making it more widely accepted than other mobile payment services.
- The use of MST technology means that users can make payments at merchants that do not have NFC-enabled terminals.
- The app is easy to use and allows users to store multiple cards in one place.
- Samsung Pay offers rewards and discounts to users who make purchases using the app, making it a more attractive option for users.
Overall, Samsung Pay has revolutionized the way we make payments by transforming our mobile devices into digital wallets. With its use of Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technologies, Samsung Pay offers users a secure and convenient way to make payments both online and offline.
