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

Whatever happened to all my tech?

ExclusiveWhatever happened to all my tech?

Mark Bridge writes:

I've been taking a look back at the devices I've written about during the past few years. Some are still faithful companions, others... well, let's just say my faith was misplaced.

ExclusivePredictions for 2016: Network Function Virtualisation, 4G throttling and video calling

Mark Windle, head of marketing at OpenCloud, predicts that this year’s reduction in the number of traditional telecoms operators in some countries will provide an opportunity for other operators to innovate and capture market share in 2016.

He says next year will be a year of rapid change for telecoms… whether it’s MVNO disruption, competitive tariff pricing or simply defence from the ‘dark art’ of hacking.

Kapture review: the audio-recording wristband

ExclusiveKapture review: the audio-recording wristband

Mark Bridge writes:

The most memorable moments in life often go unrecorded. You don't have your camera in your hands. Your finger is still hovering over the 'pause' button on your audio recorder. Or you were simply too busy experiencing whatever was happening. It's all about the one that got away.

That's where Kapture can help.

RSS
12345678910Last

Recent Podcasts

ExclusiveProtecting children from text message cyber-bullying

With more than half of all pre-teen children reported to be using text messaging as their main form of mobile communication, it's not surprising to hear that bullies are taking advantage of SMS to attack their victims.

But what can mobile networks do to help these victims of cyber-bullying?  Louise O'Sullivan of Anam Technologies explains why she thinks network operators are apparently reluctant to take action - and why other organisations need to get involved.

ExclusiveFrom the UK's newest smartphone manufacturer to the world's largest 4G tariff... and much more

The past few days have been a good time for launches. Twitter has floated on the stock exchange, Kazam has revealed its smartphone range and EE has created a tariff with a million gigabytes of mobile data.

On the other side of the coin, Acer's CEO is quitting, Vodafone UK has missed its 3G coverage target and hackers can take control of your handset's camera to ascertain PIN codes.

ExclusiveA new hope for BlackBerry... and a new challenge for Android

It looks like BlackBerry is safe for the moment... but not with the takeover many had expected.

Meanwhile Google launches the Nexus 5, Nortel's patents are sent into battle, EE promises ever-faster 4G, the FAA allows electronic devices to be used throughout flights and we celebrate a record quarter for smartphone shipments.

RSS
First1011121315171819Last

Follow thefonecast.com

Archive Calendar

«June 2026»
MonTueWedThuFriSatSun
25262728293031
1234567
891011121314
15161718192021
22232425262728
293012345

Archive