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Samsung Pay

Is it the same as Apple Pay

Payment transaction with smartphone
Payment transaction with smartphone

In my last post I reviewed Apple Pay and listed some of it’s pluses and minuses. This week I am looking at Samsung Pay to see what makes it different or the same.

What Makes Samsung Pay Different

Both apps can be used on Near Field Communication (NFC) readers or the new EMV Chip credit card readers by simply placing your device near the reader and selecting the card you want to use from your screen.

But Samsung Pay can be used on standard Magnetic Strip readers as well. This is possible because earlier this year Samsung purchased Loop Pay, the company that invented Magnetic Secure Transmission technology (MST).

With the Loop Pay app (now called Samsung Pay) installed on your device you can hold your phone next to the slot you would slide your card through. The app will cause the phone to generate a magnetic signal imitating the magnetic strip on the back of a card causing the reader to react as if you slid your card through.

This expands the number of places you can use Samsung Pay beyond an NFC network and allows small business to expand their payment capabilities with out having to invest in new software or hardware.

Will it work on my Samsung device?

At this point Samsung Pay is only available on the higher end devices, Galaxy S7, S7 Edge, S6 Edge+, S6, S6 Edge and the Galaxy Note 5. If you are using an older device you will not be able to use the app.

Can I use Samsung Pay on other Android devices
Samsung Pay can only be used on Samsung devices.
If you have any other Android device. You can use Android Pay instead.

You also need to be on one of the main US Networks, Verizon, T-Mobile, Sprint, US Cellular or AT&T

How do I Enter My Credit/Debit Cards

To enter cards in Samsung pay the process is almost the same as with Apple Pay. You install the app and open it. The camera will be activated so you can take photos of your cards and the data will be encrypted and sent to Samsung Pay who will forward the request to add the card to the bank your card is from. Then you will be contacted by your bank to confirm you made the request. Once that is completed your card can be used in the app.

The available cards do not pop up on your locked screen when an NFC network is detected as with Apple Pay. Instead you swipe up word from an icon on the bottom of the lock screen and the cards appear.

Where Can I use Samsung Pay

Samsung Pay will work with most POS Systems, Magnetic Strip, NFC, EMV Chip reads as long as the retailer accepts touch pay. But it will not work on readers where you need to insert your card such as on a gas pump.

Not all POS systems accept Samsung Pay but Samsung says they are constantly updating Samsung Pay to work with the vast majority of card readers.

Is It Secure

Samsung Pay does not store the account or credit card information on your device. Instead uses tokenization for transactions. With each purchase the your device will send two pieces of data to the terminal, a sixteen digit token that represents the credit card number and a one time code or cryptogram that is generated by your phone’s encryption key.

What if I lose my phone?

Payments can not be made with out being authorize by finger print scan or entering a correct pin number. If you have registered your phone with Samsung’s Find My Mobile service you can erase information from your phone remotely including any cards stored in Samsung Pay.

What if I do not have a Wi-Fi/Cellular service

Can I still pay with Samsung Pay if I have don’t have a connection?
Yes but you can only make 10 payments without a connection.

Can I return items I purchased with Samsung Pay

Merchants may require you to hold your phone against the reader the same way as when you make a purchase. This will validate the card is active and will allow the refund to be sent to the card used.

So is Samsung Pay as secure as Apple Pay?

Samsung has limits in the fact that only their newer  devices can use it but it does have more locations it can be used with the former Loop Pay software. Both pay systems have taken steps to ensure the security of the user but the truth of the digital world is hackers are going to try to get in these digital wallets. The question is how secure do we feel using these applications? The convenience is a big plus but comes with some risks, we should never assume our information will be protected by someone else. We all need to be proactive in protecting our information.

Information sources

What you need to know
by Lexy Savvides
How will Samsung Pay compare to Apple Pay?
By Michael Simon