Samsung Pay is a mobile app for Samsung devices that allows users to make payments at retail stores.
The application employs Magnetic Secure Transaction (MST) technology, which emulates the magnetic signal from a traditional card swipe, allowing users to securely replace the card payment method.
Samsung Pay leverages algorithm-generated token numbers for each card transaction, which enables only dummy account numbers saved on the device, thus securing the card and payment information against mobile hackers.
To add another level of security, users can choose fingerprint authorization for their payments.
Samsung Pay allows users to add up to 10 different American Express, Visa or MasterCard card accounts (both debit as well as credit cards), as well as an unlimited number of gift cards.
Sandra from Tilton's Market
Specialty: Grocery / supermarket
Employees number: 11-50 employees
The concept is great and would certainly cut down on what you have to carry around with you. Customers want to use this.
This does not always work and can be frustrating for the customer who used it successfully one day and then can't access it the next.
Monique from JF Mechanical LLC
Specialty: Other specialty retailer
Employees number: 1 employee
I can directly send an invoice for payment from the site securely and send a receipt directly to the customer
You have to wait 1-2 business days for deposits. They charge a 2.75% - 3.19% processing fee and more for check payments