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Pay While Samsung offers an experience to the phone of a similar user to the Apple and Android Pay Pay, it enjoys a key advantage could help overcome its competitors in terms of short payment volume to medium term. In this note, we examine the potential impact of Samsung Pay and how it works.
The main advantage of Samsung Pay
Apple-Pay
Pay Samsung can leverage one of the three technologies to make payments. It can be used to make payments via near field communication (NFC), Magnetic Secure Transmission (MST) and barcode reading. The main advantage of Samsung Pay is the ubiquity of acceptance because the MST technology emulates payment cards with magnetic strip which we are accustomed to using the United States. This means that Samsung Pay can be used in the vast majority of payment terminals in the United States. If STD does not work for some reason, Samsung Pay will generate a barcode that can be scanned to make a payment. And as traders make upgrades to terminals compatible with NFC, users would be able to perform NFC transactions
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Samsung compatible devices with Samsung Pay
To drive the dollar volume of mobile payment, people actually have to mobile payments. In addition to providing incentives such as loyalty programs or offers, the best way to encourage the use is by the easy payment method and its availability. This allows to adopt to develop the habit of using mobile payment method. Pay adopters of Samsung would not have to expend energy trying to figure out if Samsung Pay is accepted in a merchant location, and that means they will probably continue to use it.
While the greatest obstacle facing acceptance Samsung Pay is in gas stations, where a payment requires an internal trigger a terminal to be depressed by a map. There are some workarounds for this, but it would be a while before running on Samsung Pay outdoor gas station terminals. Pay Samsung would have a similar problem in most ATMs. However, as Apple and Android Pay Pay are coming, Pay Samsung have an advantage because it would come preloaded on Samsung devices and would probably be in partnership with the four major US credit networks and most major banks. It would initially be available on the new Samsung devices including the Galaxy S6, S6 Galaxy Edge and Edge Plus and Galaxy Note 5.
In addition to credit cards, Pay Samsung would also be consistent with the cards -Gifts, store cards and loyalty cards. This could consolidate the mobile experience portfolio for users of multiple applications (a payment application and app store) to a single application. In short, for users, Samsung Pay is designed with simple gestures that attempt to mimic closely the experience of using a real wallet. Maps can be accessed with a simple phone, from the home screen, the lock screen, or sleep mode. Samsung’s goal is to streamline the process of using a mobile wallet, so that users are beginning to replace their portfolios with phones, no supplement
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