NFC is the technology that enables contactless payments.ģ Digital token number - this method replaces the actual card no with random digital code which replaces the actual card no. MST sends a magnetic signal from the device to the payment terminal's card reader.Ģ NFC near field communication - NFC ( near field communication) is the technology that allows two devices-like your phone and a payments terminal-to talk to each other when they're close together. Well let me tell you that Samsung pay uses two transmission methodġ MST magnetic secure transaction - Magnetic secure transmission ( MST ) is the name for mobile payment technology in which devices such as smartphones emit a signal that mimics the magnetic stripe on a traditional payment card. To use Samsung Pay, you'll need to download and install the Samsung Pay app on your compatible phone, register compatible cards and accounts and the platform will draw directly from these chosen sources when making a payment. You can find the full list of compatible devices below. The Samsung Pay platform is baked into Samsung Galaxy devices, which includes the company's smartphones and wearables. Here's everything you need to know, including what banks are supported and how it works. It is a platform for Samsung devices - smartphones and wearables - that allows you to pay for goods and services by tapping your Samsung device near a contactless payment terminal or authorizing an online payment, rather than using cash or credit cards. this system allows the user to forget the physical cards at the home.

Samsung pay is the virtual card system which allows the users to pay on the point of sale (POS) this system was introduced in 2015 with Samsung s6, this allows users to pay with the virtual encrypted with the help of the biometric data stored in the device.

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