Samsung Pay, the firm’s mobile payment service, which is designed to compete with plastic and cash, is all set to launch for public use. It’ll first be available in the South Korea starting next week on August 20th. Next in line is the United States marketplace, where the Samsung Pay will start on September 28th, with beta testing to be performed in the interim.
Samsung Pay relies on a mix of NFC (Near Field Communication) and MST (Magnetic Safe Transmission) technologies. While the first one needs upgraded terminals, MST was created to work with present ones which makes it compatible with each terminal, where you are able to swipe your bank card. The protection of the trade is ensured with Samsung Knox, fingerprint recognition and storage encryption.
Here is the Samsung Pay Demo video –