Categories
Close
Menu
Menu
Close
Search
Search

Featured Articles

News

Samsung confirms its mobile payment plans

Mark

LoopPay tech will be part of Samsung Pay

Share:

Print

Rate article:

No rating
Rate this article:
No rating

Samsung Electronics has announced a new mobile payment service called Samsung Pay. It combines what it’s calling Magnetic Secure Transmission (MST) - the technology used by its recent acquisition LoopPay - with Near Field Communication (NFC). As a result, it says consumers will be able to use secure mobile payments at ‘nearly all’ merchant locations.

LoopPay produced key fobs and smartphone cases that fooled a magnetic card reader into thinking a card had been swiped through it. In reality, the LoopPay device generated a magnetic field to mimic a card swipe.

This MST technology will now be built into the new Samsung Galaxy S6 and S6 edge smartphones, along with NFC. Consumers will be able to store their existing card details on their smartphone, with payments protected by the fingerprint sensor on the phone.

Image

JK Shin, CEO and Head of the IT & Mobile Communications Division at Samsung Electronics, said “Samsung Pay will reinvent how people pay for goods and services and transform how they use their smartphones. The secure and simple payment process, coupled with our robust partner network, makes Samsung Pay a truly game-changing service that will bring value to consumers and our partners in the ecosystem.”

Samsung Pay will be launched in the USA and South Korea this summer, with expansion to Europe and China already planned.

Comments

Collapse Expand Comments (0)
You don't have permission to post comments.

Opinion Articles

ExclusiveLast week at The Fonecast: 26th November 2012

Mark Bridge writes:

It’s time to ‘ketchup’ with last week’s biggest mobile industry news stories - and where better to start than with HP’s claims of ‘saucy’ behaviour?  It’s launched an investigation into last year’s acquisition of UK company Autonomy, claiming the software company had ‘spiced up’ its valuation. Condiment-based puns aside, it’s a serious matter that could see key players from the deal charged with cooking the books.

ExclusiveOperation Mobile as military prepares to synchronise with smartphones

Kevin Deal, Vice President of Aerospace & Defence at IFS North America, writes:

It is difficult to believe that the idea of a hand-held mobile phone was an alien concept only a few short decades ago. From brick-sized analogue devices to wafer thin smartphones with processing capabilities comparable to those of laptops, new technology is constantly pushing the boundaries of what we can expect from our phones. And, in a reverse of the normal pattern of technology innovation, a development driven by consumers is set to have an important impact on aerospace and defence (A&D).

ExclusiveLast week at The Fonecast: 19th November 2012

Mark Bridge writes:

The last few days have been particularly busy for UK telecoms regulator Ofcom. It started the week by announcing its rules for next year’s UK 4G mobile spectrum auction – expect services to go live in around six months – and it ended the week with plans to avoid a 5G capacity crunch.

ExclusiveConsumer privacy, opt-in marketing and the future of mobile

Mark Bridge writes:

Today’s consumers receive a seemingly never-ending stream of online information from their social networks, from websites, in their email and on their mobile devices. But is there a way to let individuals stay in control whilst also helping companies advertise their products?  According to nFluence Media, there definitely is.

To find out more, I spoke to Henry Lawson, co-founder and CEO of nFluence, and started by asking him to explain exactly what nFluence did.

ExclusiveDoro aims at the sweet spot for easy-to-use mobile phones

Mark Bridge writes:

Here’s a statement that’ll come as no surprise to anyone who works in the UK mobile industry.

For many people, their mobile phone isn’t just a communication device. It’s a personal statement.

Of course it is. Why else can you buy a gold-plated iPhone, a diamante-encrusted Blackberry or a Samsung Galaxy SIII in colours “inspired by the Earth’s richest materials”?

RSS
First2829303133353637Last

Recent Podcasts

ExclusivePodcast from Mobile World Congress 2015

Mark Bridge learns about the mobile technology trends at Mobile World Congress 2015 by chatting to James Rosewell of 51Degrees, Dr Kevin Curran from the IEEE and Chris Millington of Doro.

They talk about wearable devices, wireless charging, mobile operating systems and much more... including some of their favourite products from the exhibition.

ExclusiveLooking back at February: from security scares to multiple MVNOs

We're taking a look back at the biggest mobile industry news stories from February 2015, including allegations that the UK's security service tried to breach SIM card security by hacking into one of the world's biggest SIM producers.

We also talk about the planned BT and EE merger, the creation of two new UK virtual networks, some acquisitions in the mobile payment arena and a new Ubuntu smartphone.

ExclusiveA month of mobile: O2 counts on 3, Microsoft counts to 10 and Apple counts its profits

We're back with a month of mobile industry news, including takeover talks and takeover rumours. O2 and Three are said to be discussing a merger... but is there any truth in the suggestions that BlackBerry could be up for grabs?

We also discuss Apple's record-breaking quarterly figures, the highlights of CES and the launch of Microsoft Windows 10, as well as saying farewell to the current version of Google Glass.

RSS
12345678910Last

Follow thefonecast.com

Archive Calendar

«June 2026»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345

Archive