For most customers, price, quality, value and service are really important, but so is convenience.
A quick, easy way to pay is becoming increasingly important. It explains the dramatic rise in online shopping and, more recently, payment methods too.
What is Samsung Pay?
Samsung Pay is a mobile payment and digital wallet service from Samsung Electronics.
Samsung Pay can be used to pay for anything via a contactless Near Field Communication (NFC) card reader terminal simply by tapping on the machine. It works in almost all stores, even those that use older magnetic-stripe point-of-sale terminals. There’s no need to get new software or update your hardware.
In addition, it is also a digital wallet, so-called, because it stores the user’s card details to make online purchases. Once a card is set up, there’s no need to enter card details online.
Samsung Pay Working
Samsung Pay uses Near-Field Communication (NFC) technology to make contactless mobile payments. Without getting too technical, “NFC” uses wireless data transmission to enable different devices to communicate with each other.
In addition, Samsung Pay uses a technology known as Magnetic Secure Transmission (MST), which also allows it to be used on older magnetic stripe credit card readers, as well as newer POS systems.
Safety in accepting Samsung Pay
By using Samsung Pay, user’s details are protected by Knox real-time hacking surveillance and rooting prevention.
In addition, Samsung Pay offers ARM TrustZone, an advanced security technology that protects transaction information from attacks.
Card information, such as the user’s 16-digit account number is replaced with a digital account number (called a token) that is stored as an encrypted one-time use number by their Samsung device.
Because users don’t have to enter and re-enter their card information, there’s less chance of fraud and every chance of a simple, speedy checkout.
Unlike credit cards, which are small and can easily be lost or misappropriated, a smartphone that is stolen is difficult to access if there is an access password, fingerprint check or encrypted keys.
So, from your point of view, it is safe to accept Samsung Pay.
Benefits for accepting Samsung Pay for merchants
There is no need to update card readers and registers.
One thing that really sets Samsung Pay apart from other mobile payment companies is that it can be used on older magnetic stripe credit card readers, as well as newer POS systems. This means that you can offer fast, convenient, contactless payment to your in-store customers without having to update your card readers and registers.
You can reward loyal customers
Samsung Pay users can store any card with a barcode. So, you can offer them vouchers, coupons, or certificates with barcodes. This way, they can earn points even when they don’t have their physical card with them.
Instead of inputting card details for every transaction, Samsung Pay customers can authorise the transaction with their fingerprint. They can also use passcodes or iris scans for the authentication process.
Samsung Pay Rewards: what are they, and how can you use them?
Every time you use Samsung Pay, you earn points and you can use those points for a variety of things. There is actually a lot here. Here is everything you need to know about Samsung Pay Rewards.
How to earn Samsung Pay Rewards
There are actually a lot of ways to earn points for rewards. You can refer below:
Everyday transactions – You earn one point for your first nine transactions, two points for transactions 10-19, and three points for transactions 20-50. You can only earn points on a maximum of 50 purchases per month and it resets every month. You can get about 100 points per month this way.
Promotional offers – Samsung Pay has promotional offers with various brands. You engage with those promotions and earn points. The promotions change periodically, but you always earn bonus points for buying gift cards through the Samsung Pay app.
Random actions – Samsung will occasionally throw points at you for doing small things. For instance, a couple of years ago, they gave people 1,000 points to make Samsung Internet Browser their default browser. These are rare, but they’re usually easy and earn you points quickly.