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

ExclusiveThe Hare and the Tortoise: the race for 4G/LTE in the UK

Robin Kent writes:

With this week’s announcement that Everything Everywhere has been given the green light to launch the UK’s first 4G service, competing operators such as Vodafone and O2 are getting hot under the collar. With every day that goes by, these operators lose vital competitiveness as the market creeps away them towards Orange and T-Mobile. This is a real life ‘hare and tortoise’ scenario.

ExclusiveApple iPhone SMS text spoofing: whose fault is it?

Mark Bridge writes:

Last week, French iOS security researcher pod2g revealed a potential security risk with the Apple iPhone’s handling of SMS text messages.

All text messages can be sent with an optional ‘reply to’ telephone number that’s different from the sender’s number. The majority of text messages don’t use this feature - and many phones either ignore the extra data or display both numbers - but Apple’s iOS seems to handle it in a potentially risky way.

ExclusiveAndroid vs iPhone: which is right for your business?

Kerry Butters writes:

When deciding on which mobile device is the right one for your business, there are a few things to take into consideration. Firstly, are you buying a handset for yourself or for others who work in the business, or are you considering running a BYOD (bring your own device) scheme.

ExclusiveEverything Everywhere confirms it's planning a new brand

Mark Bridge writes:

It’s been a busy day for Everything Everywhere. Alongside its 4G news came rumours that the company was planning a rebrand, with ‘Orange’ and ‘T-Mobile’ eventually being dropped in favour of the ‘Everything Everywhere’ branding.

There’s now an official statement from Everything Everywhere:

ExclusiveLast week at The Fonecast: 20th August 2012

Mark Bridge writes:

Our first week of Olympics-free news didn’t start well for many people. Google said it was planning to reduce the number of employees at its Motorola Mobility subsidiary by around a fifth, cutting approximately 4,000 employees in a bid to return its mobile phone business to profitability.

RSS
First3334353638404142Last

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