Samsung has started testing its answer to Apple Pay in Korea this week.
The service is called Samsung Pay and it is controlled by LoopPay, the Boston-based organisation that Samsung gobbled up not long ago. It’s due to launch in Korea and the U.S. in the first place before extending around the world, yet Samsung has poked it into action with a pre-dispatch test case program among Galaxy S6 and S6 Edge owners in its home country.
They seem nearly identical, but Samsung Pay has a few if differences compared to Apple Pay. While both bolster NFC, Samsung’s service runs above and beyond with magnetic secure transmission (MST) technologies in existing point of sale devices. That is helpful for retailers who don’t have to update their terminals to support it.
Like Apple, Samsung clients pay by putting their device near the payment terminal in-store and either validating instalment through their unique finger impression or by inputting a code. The Samsung Pay application lets clients stash a scope of charge cards for utilization, yet real information is neither stored on a gadget nor sent amid an exchange. Samsung said it utilizes “a mixture of security advances and an abnormal state encryption framework” to keep information safe.
The Korean firm shuttered its wallet benefit not long ago, clarifying that “the utilization rate was not what anybody expected.” It then proceeded onward to instalments with the arrangement for LoopPay. It’s still early days for Apple Pay, which ventured into the UK this week, and it’ll be fascinating to see what sort of effect Samsung’s reaction has — both as far as retail and engagement/maintenance existing.
