Samsung takes on Apple with new mobile payment service

Samsung Pay available for Citibank and AMEX customers

Samsung has thrown its hat in the mobile payment ring with a new contactless offering that lets Citibank and American Express credit card customers pay for products and services in-store with their smartphones.

To make a payment using Samsung Pay – the manufacturer’s answer to Apple Pay – users swipe up, choose the desired payment card, authenticate the transaction with a fingerprint sensor and tap the device on a point of sale terminal.

The service is available to users with Samsung Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy Note 5, Galaxy S7 and Galaxy S7 edge smartphones.

Prasad Gokhale, VP at Samsung Australia's mobile division said the offering was the next development for Australians who use their smartphone as the central device to live, organise and enjoy their lives.

“Australia is a market of early technology adopters and by providing a platform open to all partners, ranging from government to financial institutions and retailers, while upholding the highest standards of security and data privacy, Samsung is fueling the transition to a truly digital wallet,” he said.

Samsung claimed that partner integration is simple as the technology uses near field communication (NFC) and Samsung’s proprietary technology – Magnetic Secure Transmission (MST) – which the vendor claimed makes it the only payment solution with wider acceptance.

“The MST technology enables Samsung Pay to support partners that use a traditional magnetic stripe commonly found on loyalty cards, gift cards and transit cards, both in Australia and across the globe,” said Elle Kim, global vice-president, Samsung Pay.

“It’s our goal to one day replace wallets, by making every card accessible on Samsung smartphones,” said Kim.

Each transaction uses an encrypted digital token to replace a user’s personal payment information and payments can only be authorised with an approved fingerprint or PIN, Samsung said.

Samsung Pay was previously launched in South Korea, the United States, China and Spain.

Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia

Follow Byron Connolly on Twitter: @ByronConnolly


Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags smartphonesamsungsamsung galaxy sNear Field Communications (NFC)NFCApple PaySamsung Galaxy S6Samsung Galaxy S7Magnetic Secure TransmissionSamsung Galaxy Note 5

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Byron Connolly
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?