Samsung has launched its mobile wallet services in South Korea. Samsung joins apple which has lunched a rival facility last year. Samsung is trying to convince the customer to us either handset rather than using a plastic card which helps to make street purchase.
Samsung believes that it is a critical case in its favor. The technology of Samsung works with a large number of payments. It is still not clear that it is essential for using mobile to buy goods offline which to helps tech betting to handset stand out.
Samsung pay is only available in their own home country. It has extended to the US on 28 September, and it indicates that Spain, UK, and China will be the next city to get facilitating shortly. It is more aggressive than Apple pay which is limited to the US and UK. There are two additional factors which consider. Samsung pay works only firm with the network, android phone such as Galaxy S6. Galaxy S6 edge, galaxy S6 edge+ galaxy note 5.
The credit must be signed up. There are many payment apps like Google wallet which does not need to unlock and lunch the particular app to get started. There is a method called swipe up which helps you entered the payment card from the button of the devices and Samsung pay when the screen has turned off to begins.
After that, you pick up your credit card and scan your fingerprint or provide pin code and after that, you should have to bring the phone closest to the terminal to complete the sale within 15 seconds. It should be able to work in two real factors. It works the same as Apple pay existing as tab and go terminal which helps the user to use near field communication (NFC) transmission. This is deployed across the UK with the introduction of chip and pin code.
Samsung g has added many tricks which works with magnetic stripe readers which is remain popular in the UK and Asia. This technology is also called Magnets secure transmission (MCT). We also transmit the data using an electronic signal which coils inside the phone to send the message which is by Thomas Ko, vice president of Samsung pay.
This is receiving the same amount of information which the magnetic reader would. Payment cared has been successfully targeted by thieves who clone the details with the help of magnetic stripe code. Samsung pay has also used some security system called token which protects from the threat. It also has some static primary account number which helps to send instead:
A 16 digit token
A cryptogram
These two data sets are sent to the processor to check the correspondent by the help of authorizing payment. There is no way for there to be able to get closest to intercept the transmission for reverse-engineer to deduce the victim’s card. They would not be able to get use the token with and the magnetic stripe reader unless they generate cryptograms. It is impossible without an encryption key.
Google is pitching its services to use it because it does not need a particular app to be launched which require payment terminal to offer.