Tags ArchivesSamsung Pay

Samsung Pay is Here standard

The first major challenge to Apple Pay is now here (I’m not counting the Google Wallet as it predates Apple Pay). While I hate the name (seriously Samsung? You accuse Apple of copying you all the time), there is a very cool technology (Thanks LoopPay) that allows for some backwards compatibility that is not present with Apple Pay. These features are part of the Samsung Galaxy S6 and S6 Edge. Couple of key highlights: There are two method of payment, Contactless EMV using Near Field Communications (NFC) and Magnetic Secure Transmission (MST). MST is backwards compatible with (most) existing terminals and will transmit payment information by creating a field that the magnetic stripe reader can interpret. As far as the ...

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