Poll: How often do you use Samsung Pay?
Mobile payments have come a long way since Apple made a huge push into the space with Apple Pay in 2014. Google introduced Android Pay in 2015, and Samsung has joined the fray with its own mobile payment system called Samsung Pay.
It’s currently available in the US, the UK, South Korea, China, Australia, Brazil, Canada, Singapore, Spain, India, Hong Kong, Malaysia, Puerto Rico, Russia, Sweden, Switzerland, Thailand and the United Arab Emirates. Since Samsung Pay works in different countries, the company has had to work with banks and credit card providers to ensure that the service is accessible to its users.
Samsung claims that its system will work with almost all point-of-sale systems: NFC, magnetic stripe and EMV (Europay, MasterCard and Visa) terminals for chip-based cards. The service works with all regular swipe-based card machines which support NFC or MST (Magnetic Secure Transmission). The former works by building a high frequency wireless network between the phone and the payment terminal, while the latter creates a dynamic magnetic field between the smart phone and the payment terminal’s card reader.
The base concept behind Samsung Pay / Android Pay or Apple Pay is, you don’t need to worry about carrying your physical Credit Cards. Your device should be able to carry it virtually wherever you go. I have used Samsung Pay in India multiple times and it works smoothly. However, it won’t work with readers where you need to physically insert your card into a slot such as those found at gas stations and on ATMs.
Coming back to the question,