After numerous failed attempts to authenticate, Samsung Pay erases all the data in your card to prevent unauthorized use. MST or “Magnetic Secure Transmission” interacts directly with the machine and allows you to make payments, which is very similar to credit card transactions.Īlso, Samsung Pay uses tokenization, and you authorize transactions with a PIN, fingerprint, and eye scans. Sure, it can also use NFC technology built on your smartphone to make payments.īut, even if the point-of-sale machine does not support NFC technology, you’ll be able to do payments thanks to MST technology that the latest Samsung smartphones have. This part is where Samsung differs a bit. Google Pay works by facilitating a tokenization process in which a token acts as a stand-in for a customer’s actual credit and debit card numbers and information to protect your account information. You’ll have to download the app, register your credit card, and to use it, tap your smartphone on the machine, to make the payment. Google Pay uses NFC technology to interact with point-of-sale devices that support NFC technology. So how does each of these “pay” work? How does Google Pay Work? Although technically, it still uses your credit card or bank account to make purchases.
Interestingly, smartphones have become one of the media of transactions. There are a lot of different regions that don’t support Samsung Pay at all, so it is a minimal service as of now. Samsung Pay was initially launched in South Korea in August 2015 and eventually came to the USA a few weeks later and then saw a release in Australia in June 2016. This service lets users make payments using compatible phones and other Samsung-produced devices. Similar to Google Pay, Samsung Pay is also a mobile payment and digital wallet service developed by Samsung Electronics and is exclusive to Samsung devices. However, it also remained in service until Google decided to merge them.
There was already a version of payments implemented by Google called Google Wallet, and Android Pay was its natural evolution. Google Pay, formerly known as Android Pay, was first launched in 2015.
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