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Samsung Pay

What the heck is the difference between Samsung Pay and Android Pay?

samsung pay vs android pay

If you own a newer model Samsung Galaxy smartphone, you might see that Android Pay and Samsung Pay are both available to you and seem to serve the same purpose, so what gives?

Android Pay and Samsung Pay are quite similar in that they both handle mobile payments.  The user simply opens the payment application, takes a picture of a credit card to store its details, and uses the smartphone to pay for the transaction. However, the underlying technological differences between the two wireless mobile payment platforms could help one of them claim the leading position and make the other fall into obscurity.

Some Background on Mobile Payments

android pay

The recent boom in mobile payment options means that we could very soon leave our wallets at home and pay for everything with our smartphones. Gartner, an American research and advisory firm providing information technology-related insight, predicts that the global market for mobile payments will grow from about $235 billion in 2014 to $720 billion in transactions by 2017.

On Android, this amazing growth is entirely driven by two mobile payment options: Android Pay and Samsung Pay. Both arrived in September 2015 and have since established their firm place on the market with partnerships with countless financial institutions and retailers.

Android Pay

android pay
Right from the start, Google’s own mobile payment option, Android Pay, has one very important trick up its sleeve: It works on all smartphones with NFC and HCE (Host Card Emulation) support that are running Android 4.4 KitKat and later. Chances are that if you’ve recently bought an Android device from a leading smartphone manufacturer, you won’t have any problems getting Android Pay to work.

The number of supported devices will only grow in the future, as Google makes the requirements for Android Pay the new standard for all devices.

The biggest downside is it currently doesn’t support too many banks. You can find the official list of supported cards and banks on Android’s official website. At the time of writing this article, Android Pay should work with almost 700,000 store locations and 1,000 Android apps.

Samsung Pay

samsung pay

Samsung’s mobile payment platform is built upon a technology from a company called LoopPay, which was acquired by Samsung in 2015. According to their website, “LoopPay was born with the invention of Magnetic Secure Transmission (MST). This patented technology, along with the LoopPay app, became the most accepted mobile payment solution worldwide.”

MST emits a magnetic signal that mimics the magnetic strip on a traditional payment card, thus allowing for mobile payments at almost any point-of-sale system. Samsung claims that the technology is more secure than using a traditional payment card and is as secure as paying with Near Field Communication (NFC), which is what Google uses for their Android Pay system. Paying with MST through Samsung Pay is simple and intuitive: all users have to do is place their smartphone close to the terminal and wait for the system to confirm the payment.

Because magnetic card terminals are much more widespread than those that accept NFC payments, it’s possible to use Samsung Pay in more than 90% of the stores in the United States and more than 30 million retail locations worldwide. Furthermore, with partnerships with over 100 financial institutions, you have much better chance of getting your card to work with the system than you do with Android Pay.

The MST technology was put to work in this recent Samsung Pay commercial:

All of this would perhaps make Samsung Pay the mobile payment system of choice for most customers, if it wasn’t for the limited device support. Currently, you can use Samsung Pay only with the Galaxy S6, S6 Edge, S6 Edge Plus, and Galaxy Note 5 – costly devices that completely leave out the mid- and low-end market.

Conclusion

The Samsung’s mobile payment system is heavily dependent on the quality and popularity of their smartphones. While they have a huge advantage today with the support for MST, this technology is likely to lose its relevance in the future, as NFC becomes the new norm. Android Pay relies on its army of third-party smartphone manufacturers to push the technology forward and bring it to customers across the world. Still, Google needs to ensure that the system will work flawlessly on all devices, otherwise it could gain a bad reputation.

Samsung Pay brings new rewards program for American customers

Samsung Pay - Verizon

Samsung Pay - Verizon

While #SamsungPay has supported loyalty cards from other providers, it is taking a slightly different step today by unveiling its own rewards program in the U.S. Samsung Pay reward points will be added after every purchase that the customer makes using the platform, including in-app purchases. This means you can accrue quite a lot of points, which can then be redeemed in the form of gift cards from popular stores across the country, Samsung.com vouchers and even in the form of Samsung products.

There are three tiers in this particular rewards program, letting you gain double, triple or quadruple points. It’s a pretty exciting program for customers who tend to do a lot of shopping on Samsung Pay. Since it covers even the smallest purchase made using the platform, users stand to benefit greatly here.

Not only will this make Samsung Pay an alternative to conventional payment methods, but it will also encourage more users to breach the wireless payments barrier simply to get in on the rewards program.

Source: Samsung

Report: LG Pay to have MST support

LG G3

LG G3

Taking a cue out of Samsung’s books, #LG has apparently decided to include MST or Magnetic Secure Transmission support with #LGPay, which will be compatible with standard payment terminals where NFC isn’t available. This is a good move by the Korean manufacturer, especially since the proposed White Card idea has hit a roadblock, which led to the delay of LG Pay’s release.

It is further being said that LG Pay could finally debut with the LG G6 next year, which is still some distance away. Traditionally, we’ve seen LG trying its hand at practically everything that its competitors have tried, so this should barely come as a surprise. However, LG Pay’s delay might hurt the company a little given the dwindling sales of its flagships and the incompatibility with older hardware.

Do you think LG Pay has what it takes to make an impact on the market, given how Apple Pay, Samsung Pay, and Android Pay are currently struggling?

Source: ET News

Via: Pocketnow

Cellular variants of the Gear S2 now getting Samsung Pay support

Samsung Gear S2

Samsung Gear S2

While standard WiFi variants of the #Samsung #GearS2 have already received #SamsungPay support, the company is now enabling the feature on the cellular variants of the wearable as well. By simply heading over to the Gear Manager App on your paired smartphone, you will be able to update to the latest version of the company’s software which will automatically add the feature.

Given that the Gear S2 doesn’t have MST support by default, users will be able to pay only where there are NFC based terminals. This is a small inconvenience for basically being able to pay with your smartwatch. The update is available globally right now, so if you own a cellular enabled Gear S2, be sure to grab the update from the company’s Gear Manager app.

Samsung Pay is one of the most versatile wireless payment platforms available out there, which makes it a desirable offering for many. However, limited adoption remains a big concern for Samsung, as it is for Google and Apple.

Source: Reddit

Via: Android Headlines

Arrival of LG Pay seemingly pushed to 2017

LG Logo

LG Pay

Following Samsung’s announcement of Samsung Pay, we started hearing about LG’s intentions to jump on board the wireless payments bandwagon, with some crucial enhancements of its own. But time and again, the service has faced multiple roadblocks along the way, which has in turn delayed its release. It seems like the service has been delayed yet again, with a report mentioning that LG Pay will now see a launch in 2017.

The reason for the delay is the proposed White Card which will complement LG Pay. This is a physical card that can have your credit and debit card information, pairing with NFC on your device and even letting you swipe using conventional payment terminals.

However, the feasibility of this White Card is said to be in question with internal testing not quite done yet. LG has completed the R&D work on the wireless payments service. But the White Card seems to be drawing up new problems for the company. It was originally supposed to debut with the LG V20 in South Korea in a few days from now, but that won’t happen now. Perhaps we’ll get to hear more about it during LG’s early 2017 flagship announcement?

Source: NewsOne – Translated

Via: Phone Arena

Samsung Pay to add iris scanner support soon: Report

Galaxy Note 7 Iris Scanner

Galaxy Note 7 Iris Scanner

As we all know, the #GalaxyNote7 is the first handset by #Samsung to feature an iris scanner. And if you were wondering whether Samsung would go beyond the conventional functions, a new report is mentioning that financial institutions in South Korea are currently discussing terms to include iris scanner support on Samsung Pay.

It is said that this will be finalized sometime by the end of August, although we don’t have a precise timeline for this at the moment. If South Korean institutions introduce support for this particular feature, it shouldn’t take long for other markets to follow suit.

Currently, other wireless payments offerings only offer fingerprint scanning support, so using iris scanning could give Samsung Pay a unique edge over the competition. However, the fact that this feature is only available on the Galaxy Note 7 might prove to be a hindrance in terms of adoption. Perhaps things could get more streamlined with the launch of upcoming flagships.

Source: Business Korea

Via: Android Headlines

Tell your friends about Samsung Pay and get $5 credit in return when they make a purchase

Samsung Pay

Samsung Pay

Samsung Pay is one of the popular wireless payments services available out there. Well, you can now get a smooth $5 in credit if you refer the service to your friends or loved ones. The credit will reflect only when they make a purchase after your referral is sent and if they’re first time users. Customers can send a maximum of 30 referrals, translating to a credit of about $150. The fine print isn’t available, but there should be no hidden caveats with this promotion.

As long as you’re sending the referral to a first time Samsung Pay user, you should be eligible for the credit. We’ve seen Google and Apple offer similar promotions to lure users into trying Android Pay and Apple Pay respectively, so sending out credits is not unheard of in this particular business. Simply put, the companies are eager to get more users on board. Because at the end of the day, it’s the user numbers that count. Make sure you have a closer look at the terms and conditions involved with this promotion.

Source: Samsung

Via: Droid Life

Samsung Pay now supports 39 new institutions

Samsung Pay - Verizon

Samsung Pay - Verizon

#SamsungPay has been growing ever since going public last year. The service has now added 39 new financial institutions to its offering, allowing more customers to make use of the wireless payment service.

With the help of Samsung Pay, customers of these institutions will no longer have to physically carry their cards as having a virtual card on your Samsung device will suffice. Since Samsung Pay works with both NFC based terminals and standard MST setups, you don’t have to worry much about compatibility either.

If you don’t see support for your bank/union right away, make sure you remain patient as it can usually take a day or two to receive support. But if you’re already seeing Samsung Pay for any of these new institutions, make sure you let us know by leaving a comment below.

Here is the list of institutions that are now supported by Samsung Pay:

Achieva
Alcoa Tenn Federal Credit Union
American Heritage Federal Credit Union
Bangor Savings Bank
Bridgewater Savings
CSE Federal Credit Union
Christian Community Credit Union
Chrome Federal Credit Union
Community First Credit Union
Cornerstone National Bank
Corning Credit Union
Desert Schools Federal Credit Union
Financial Partners Credit Union
1st Financial Federal Credit Union
First South Financial
General Electric Credit Union
Gorham Savings Bank
Great Lakes Credit Union
Hastings City Bank
Haven Savings Bank
Heritage Family Credit Union
INOVA Federal Credit Union
Keesler Federal Credit Union
Kern Federal Credit Union
Los Angeles Federal Credit Union
Montgomery County EFCU
Mutual Security Credit Union
Nutmeg State Financial Credit Union
Pacific Marine Credit Union
Point Loma Credit Union
Point West Credit Union
PrimeTrust Financial Federal Credit Union
Provident Credit Union
SEFCU
St. Landry Bank & Trust Company
Summit Community Bank
Truity Credit Union
University Federal Credit Union
Vantage Credit Union

Via: Droid Life

Samsung introduces new $30 freebie for Samsung Pay users

Samsung Pay

Samsung Pay

We’ve seen innumerable promotions meant to drive consumers towards #SamsungPay in the past. The Korean manufacturer is still at it and has freshly launched a new $30 gift card promotion for users who haven’t made a purchase on the service yet. However, there are multiple caveats here unlike previous deals.

The promo is only applicable for those who have installed and registered a Samsung Pay account but haven’t made a purchase yet. And upon making three fresh purchases using Samsung Pay, a $30 credit will instantly be added to your account. You get to choose between Best Buy, eBay, Game Stop or Regal Entertainment gift cards, which is a nice touch.

You will have to make the three purchases between April 15 and May 10 to be eligible for the freebie. The promo is valid on any Samsung Pay compatible device and not just the new S7 models. If you’ve been on the fence about making purchases on Samsung Pay, this incentive might help you cross over to the other side.

Source: Samsung

Via: Android Police

Activating Samsung Pay will now fetch you a Qi wireless charging pad

Galaxy-S6-wireless-charging-problems

Although #SamsungPay is arguably one of the best wireless payments services out there, quite a few users are yet to take it for a spin. In order to encourage those users to take the leap, #Samsung is now offering a free Qi wireless charging pad, simply for activating a credit or debit card on the app. This is only applicable to new users of the service, however.

Once the card is added, you will need to head over to the promos page and copy the code mentioned there. This code can then be used to purchase the Qi wireless charger from Samsung’s official site. All the details will be provided in the page.

Samsung Pay has failed to gain traction despite being available across a variety of retailers in the U.S. The fact that Samsung Pay can even work with conventional payment terminals makes this a pleasing proposition for customers.

Keeping that in mind, it’s frankly a little surprising that it hasn’t caught on already. Perhaps the fact that it’s only limited to Samsung’s more recent Galaxy flagships is the reason for this. Anyway, if you own a compatible device and are yet to activate Samsung Pay, make sure you do, at least for that wireless charger.

Via: Android Authority

Samsung will offer you a Level U Bluetooth headset for activating Samsung Pay

Samsung Level U

Samsung Level U

#SamsungPay customers who activate a new credit card will receive a free #Samsung Level U Bluetooth headset, the company said. This is only valid for new customers of Samsung Pay, which means you won’t qualify if you’ve already registered a credit card on Samsung Pay. The Level U headphones being offered here is priced at $70, so this is quite a decent incentive for customers who activate Samsung Pay on their devices.

In order to be eligible for the promotion, new users have until the 22nd of February to activate a new credit card on the service, so there’s not much time left. Samsung isn’t letting you pick the color variant though and is only offering the Black version. But that’s not much of a caveat as you’re still getting a pretty decent accessory for free, simply for activating a credit card on Samsung Pay.

Clearly Samsung feels that a lot of customers are yet to make the jump to their wireless payments offering, which debuted late last year. So providing incentives such as these could go a long way in convincing users of its potential.

Bear in mind that this promotion is U.S. only.

Source: Samsung

Samsung shows off Samsung Pay in a new ad

Samsung Pay Ad

As part of its larger rivalry with Apple, Samsung has released a new ad for Samsung Pay, this time featuring comedian Hannibal Buress. Like with their previous ads, Samsung directly shows that advantage of Samsung Pay with it working in many more places than Apple Pay.

Samsung clearly has the advantage in places where their mobile payments works because of the MST technology that they got when they acquired LoopPay last year. For those who don’t remember, MST mimics the same technology found in the older swipe-based cards, which nearly all machines work with in the US. Do you use Samsung Pay on your supported device?

Source: Samsung (YouTube) via Android Police

Samsung Pay gains support for 19 new cards

Samsung Pay

Samsung Pay

#SamsungPay is now getting support for 19 new banks, giving more users access to the service. Below are the banks that have freshly received support for Samsung’s offering:

TCF Bank, Central Florida Educators Federal Credit Union, Financial Center Federal Credit Union, Greater Kinston Federal Credit Union, Keypoint Credit Union, Numerica Credit Union, Utah Community Credit Union, Amegy Bank National Association, California Bank and Trust and Pentagon Federal Credit Union.

MasterCard: Achieva Credit Union, Associated Bank, Bayport Credit Union, Bethpage Federal Credit Union, Cambridge Savings Bank, USC Credit Union and Navy Federal Credit Union.

You can find the full list of Samsung Pay compatible devices here.

Samsung Pay is a versatile offering and can be accessed even with a standard credit/debit card terminal and doesn’t necessarily need a NFC equipped unit, although it can work with both. Plus there’s also the $50 bonus that you get for activating a Samsung Pay account with a credit or debit card.

The service is slowly picking up pace and it already has a leg up over the competition, at least in terms of features and functionality.

Via: 9to5Google

Samsung now offering $200 credit if you activate Samsung Pay

Samsung Pay - Verizon

Samsung Pay - Verizon

In order to increase adoption of #SamsungPay, the company has tried innumerable promotions and even offered money to customers who activated the wireless payments service. And it seems like the company is not done with these promotions as of yet and it has now announced a new promo for buyers of a new Samsung Galaxy flagship.

Well, if you happen to buy or lease a new Galaxy S6, Galaxy S6 edge, Galaxy S6 Active, Galaxy S6 edge+ or the Galaxy Note 5 and activate Samsung Pay on them, you get a flat $200 discount on Samsung.com which can be used to buy another device like a tablet or even a smartwatch.

Given the kind of features that are available on the Gear S2 smartwatch (not to forget the soon to arrive support for Samsung Pay), this might be the best way to spend your $200 credit. The Gear S2 retails for $300 and $350 respectively, so you can snatch it up for $100 or $150 using this credit. Head over to the link below for more details.

Source: Samsung Promotions

Via: Pocketnow