Samsung launches test version of Samsung Pay mobile payment system in South Korea
Samsung launched a test version of the Samsung Pay mobile payment system in South Korea.
To transfer funds for payment, you need to bring a Samsung smartphone to a reader. The operation takes place with one finger touch.
For now, this payment system can only be installed on the Galaxy S6 and S6 Edge smartphones. The direct competitors of Samsung in this area are Apple Pay and Google Wallet . All three systems use Near Field Communication ( NFC ) technology.
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However, Samsung implements support for its own technology LoopPay payment system - Magnetic Secure Transmission (MST). Its principle of operation is similar to the functioning of a magnetic strip on ordinary credit cards. MST is more common than NFC. MST is supported by almost any plastic card terminal. Samsung Pay was developed just on the basis of LoopPay, which the company acquired in February of this year.
The first release of Samsung Pay will be released no earlier than September, reports The Verge.
To transfer funds for payment, you need to bring a Samsung smartphone to a reader. The operation takes place with one finger touch.
For now, this payment system can only be installed on the Galaxy S6 and S6 Edge smartphones. The direct competitors of Samsung in this area are Apple Pay and Google Wallet . All three systems use Near Field Communication ( NFC ) technology.
')
However, Samsung implements support for its own technology LoopPay payment system - Magnetic Secure Transmission (MST). Its principle of operation is similar to the functioning of a magnetic strip on ordinary credit cards. MST is more common than NFC. MST is supported by almost any plastic card terminal. Samsung Pay was developed just on the basis of LoopPay, which the company acquired in February of this year.
The first release of Samsung Pay will be released no earlier than September, reports The Verge.
Source: https://habr.com/ru/post/292736/
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