Samsung Pay is mobile payment and digital wallet process developed by Samsung Electronics in August 20, 2015 after acquiring a crowdfunded startup company "LoopPay" in February 2015.
This service can be used only on Android OS with Selected Samsung devices such as Glaxy smartphones and Gear/ glaxy smartwatches. The service supports both NFC-based mobile payment systems and magnetic stripes. In smartwatches Samsung Pay simply support NFC system. Samsung Pay support only devices with Knox warranty.
Samsung Pay's mobile payment service have different features from country to country. For example, in South Korea, Samsung Pay can be used to withdraw money from ATMs of selected Banks. In India it can be used for government provided payment system to pay bills.
Samsung Pay is multinational company and is still growing.
Con - Samsung Pay's security was flawed in 2016 by Salvador Mendoza, a well known Security researcher.
This service can be used only on Android OS with Selected Samsung devices such as Glaxy smartphones and Gear/ glaxy smartwatches. The service supports both NFC-based mobile payment systems and magnetic stripes. In smartwatches Samsung Pay simply support NFC system. Samsung Pay support only devices with Knox warranty.
Samsung Pay's mobile payment service have different features from country to country. For example, in South Korea, Samsung Pay can be used to withdraw money from ATMs of selected Banks. In India it can be used for government provided payment system to pay bills.
Samsung Pay is multinational company and is still growing.
Con - Samsung Pay's security was flawed in 2016 by Salvador Mendoza, a well known Security researcher.