Samsung is preparing to expand its service payments on the move Samsung Pay, both in terms of adding new features to the availability in three new markets. Since March 6, 2017, Samsung Pay is officially available in India. In addition to supporting the MasterCard and Visa credit and debit cards by a handful of banks including Axis, HDFC, ICICI, SBI, and Standard Chartered, the service also allows you to add Paytm.
Currently, in India Samsung Pay is supported on Galaxy S7, Galaxy S7 edge, S6 edge +, Note 5, Galaxy A5 (2016), Galaxy A7 (2016) devices. As of November, users of Samsung Pay in the US have the opportunity to choose Samsung Pay as a payment option in some applications, including Velocity, Raise, Fancy and Hello Vino. The Samsung Pay app also allows users to find discounts and coupons offered by shops and restaurants nearby, offer to be redeemed immediately if you go there.
In addition, users of Samsung Pay around the world are able to use Masterpass, the solution for online shopping offered by Mastercard in partnership with its bank that allows you to shop easily, quickly and safely. It is a digital wallet that stores shipping information and payments so you do not have to type for each new transaction. Samsung's announcement came after MasterCard said it will integrate Masterpass Pay in Android and Microsoft Wallet.
From launch of Samsung Pay almost two years ago, more than 500 banks and credit unions have signed on to support this service. Samsung says that the group has more than 85 percent of the debit and credit cards in the US market.
Samsung celebrates one year of pay in the US. To mark the first year of availability of Samsung Pay in the US, with the update of the app on September 27, 2016, the South Korean company has added support within the app for finding coupons. Samsung Pay then allows you to search, store and redeem coupons. In its first year in the US, Samsung Pay has added features such as support for gift cards and coupons, allowing users to streamline their portfolios.
Samsung Pay now supports more than 500 banks and credit unions, which represent more than 80 percent of the market for debit and credit cards throughout the United States. To celebrate the first year of Samsung Pay in the US, the company giveaway 365 Gear S2 smartwatch for those who post on Twitter a birthday message for its application.
Since September 2016, Samsung Pay also allows synchronization of cloud gift certificates and information on users cards so to have them automatically available on every new device. In September 2016, Samsung begun distributing Samsung Pay version 2.3, which added support for even more gift cards and adds support for the iris scanner. This allow users equipped with a device of the iris scanner currently only Galaxy Note 7 to authenticate their identity using the iris scanner.
Probably the Samsung Galaxy S8, coming in 2017, will be the second model with iris scanners. The scanner of the iris in the Galaxy Note 7 can be used to unlock the smartphone, and is also able to recognize the eye if you wear glasses, provided you keep the sensor at a close range, and works with both black eyes or light to dark.
Samsung Pay is available in South Korea, United States, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand, Canada, Malaysia and India. Samsung Pay should soon be launched in Taiwan, Turkey, United Kingdom, Poland, Indonesia and Sweden.
The service in the future should allow you to make online payments. Initially, online purchases that will support Samsung Pay will only be limited to in-app purchases. The rival services such as Android Pay and Apple Pay already support in-app purchases.
Samsung has announced that the payments service will be extended in the coming years to Samsung mobile phones not only high-end, and also to cheaper phones. Currently, selected Samsung devices like Galaxy Note 7, Galaxy S7, Galaxy S7 edge, Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge +, Galaxy Note 5, Galaxy Note 7, Gear S2 and Gear S3 support payments in stores through Samsung Pay.
Samsung Pay service is popular in the country of origin of the manufacturer, numbering only in South Korea more than a million users in the first months after its debut, according to official data shared by the company. At the time it was not revealed how many users in the United States, a major market and where is on the Apple Pay service.
Samsung Pay aims to make it easier for users to pay for goods and services in physical stores. Samsung has introduced Pay with the idea of launching a service that is useful for users to pay for products they buy placing your compatible smartphone near the cash register of a store instead of swiping a credit card. Samsung Pay also caters to traders, who do not update their old hardware because Samsung Pay leverages Magnetic Secure Transmission (MST) that works with the older card readers. This technology also supports the NFC, now present in all new smartphones.
The announcement of the official launch of Samsung Pay first in Korea from 20 August and then in the United States from September 28 came along with the announcement of Galaxy S6 and S6 Edge, which together with the new Galaxy Note and Galaxy S6 5 Edge +, was the first devices to integrate the function. With the launch of these new smartphones, opened a new era of mobile payment. It's easy, secure and, above all, pretty much available everywhere you can swipe a card.
Samsung then follow in the footsteps of Apple technology for mobile payments. However, to date, services like Apple Pay had a low compatibility with POS merchants, who have been provided with the appropriate means to accept payments with the iPhone. On the contrary, with Samsung Pay, consumers can use their mobile devices to pay at existing point-of-sale terminals. The Samsung solution is the fact leverages Near Field Communication (NFC) that a new patented technology called Magnetic Secure Transmission (MST) allow you to make mobile payments.