Before going into the actual topic, lets know something regarding payments.
In these days many people have started using physical debit/credit card for payments/transaction at POS terminal, Online transactions/Payments etc. But are they safe and secure way of pay? Payments/transactions through physical card cannot guarantee if those type of payments are safe&secure.
Each year, Many people lose with total of about crores of rupees through debit/credit card payment/transaction by fraudsters.
Hackers nowadays may easily able to gain access to customer's personal data/Information which may put your money in bank account at risk.
Card SKIMMING/CLONNING is other method where the swipping of debit/credit card during payments at POS terminal may lead to transfer/copy of card information/ data onto a device attached to the POS terminal/Machine, It may also have a small video recorder on the machine to read customer pin.After then fraudester may replicate or make duplicate card with original card data.
To overcome debit/Credit payment fraud to some extent SAMSUNG has launched SAMSUNG PAY on some of their devices on 20 August 2015 in South korea intially and then for other countries. In India SAMSUNG PAY launched on 22 March 2017.
2. What is SAMSUNG PAY ?
SAMSUNG PAY is a revolutionary way of making safe and secure contactless card payments at POS terminals puts all of the fears to rest.
SAMSUNG PAY ICON ON SMARTPHONE
3. WHAT TECHNOLOGY USED ?
SAMSUNG PAY uses SAMSUNG'S own patented technology MST(Magnetic secure transmission) which works like a physical card where the payment work with card data stored on the phone transmit magnetic waves when placed nearer/tap to the POS terminal.
And SAMSUNG also uses NFC(Near field communication) where payment work when the card data stored on phone transmit radio signal from phone to POS terminal for transaction.
Payments can be done with PIN and biometrics such as fingerprint ,Iris scanner.
4. IS SAMSUNG PAY safe and secure?
SAMSUNG PAY is secured by the defense grade security system called SAMSUNG KNOX which protects data/Information of samsung pay user and also secured by ARM trust zone technologies.
DIGITAL TOKENIZATION All transaction use random token instead of the card Information
i.e)The actual card data/Information is not shared during payments and thus details are safe and secure.Making samsung pay one of the best safe and secure payment service.
5. What if the phone is stolen / lost?
SAMSUNG may already thought of this problem and had made a solution for this too, Where if the phone is stolen/lost the user may allow to delete/Lock the data on samsung pay using FIND MY MOBILE option using samsung account details.
6. PAYMENT WITH REWARDS and REDEEM option
SAMSUNG PAY may also reward points with different levels for some transations, These points may be redeemed and used for purchasing some product etc.
7. CAN SAMSUNG PAY used for other payments etc?
Yes In samsung pay app different type of payments can be made.Like phone recharge payment, Current bill payment etc.
8. How to enable/disable samsung pay quick access from all/Different screen options?
Click samsung pay app < Click three bar line at top left < Click setting icon at top right < Click quick access < enable /disable quick acces from Lockscreen/Homescreen/Screen off
QUICK ACCESS OF SAMSUNG PAY FROM APPS SCREEN
QUICK ACCESS OF SAMSUNG PAY FROM LOCK SCREEN
it may help if you don't want to unnecessarily access/touch quick access area of samsung pay from any/All of the above mentioned screen options.
9. What are some of the SAMSUNG PAY supported devices?