What makes Samsung Pay more secure?
Samsung Pay, officially launched on August 20 in Korea, has been well-received by both consumers and vendors. Following the early success in Korea, the only mobile payment system accepted almost anywhere, Samsung Pay was introduced September 28 in the U.S. Samsung also plans to offer the service in the U.K., Spain and China.
What makes Samsung Pay different than other mobile payment systems is that it supports both MST and NFC technology, meaning consumers can use their mobile wallet at any store with credit card magnetic stripe readers and contact less payment support. What makes Samsung Pay more secure?
Samsung Pay’s Five Levels of Security
No Need to worry about credit card information
The best thing about paying through Samsung Pay is that while making payments with Samsung Pay, no personal payment information such as user name and card number is displayed on the screen. You don’t have to worry about keeping your credit card credentials safe while using it.
Tokenization helps secure your personal payment information
To replace credit card details while making payments, an highly encrypted token is used, such that even if the vendor’s POS terminal is hacked, personal payment information remains safe. The encrypted token is for One Time Use only and discarded after each transaction.
Fingerprint & PIN code authentication
All the payment transaction made through Samsung Pay are authenticated with Fingerprint or registered PIN code. Only the user can authorize payments, reducing risk of fraud.It provides a additional layer of security to your cashless shopping experience.
KNOX Security feature
Samsung Pay offers high-end security features to its users through Samsung KNOX mobile security platform, which regularly monitors device, detecting hacking risks and malicious activity in order to safeguard users from real time and unknown threats.
Find My Mobile
In any case the user might lose a phone, Find My Mobile(FMM) feature enables the user to remotely lock the device or permanently swipe all the personal payment transaction history to prevent any misuse.
In addition to being more secure and more universally accepted, Samsung Pay is simple to use. After signing up with a Samsung account, users can complete registration in just four simple steps. Simply scan or manually input card information, then scan fingerprint and/or input PIN code for verification. Verify card with the issuer and register signature (may vary according to location).
Once Samsung Pay is registered, accessing is simple. Finger swipe up on the locked screen, home screen or sleep mode to launch Samsung Pay. Swipe side to side to view & select a saved card. To pay, simply scan fingerprint or enter PIN to make payment transactions.
Samsung Pay is easy, secure and expedites the shopping experience. Samsung Pay is available on the Galaxy S6, the Galaxy S6 edge, the Galaxy S6 edge+ and the Galaxy Note5. Samsung Pay will also support NFC technology on the Gear S2.
Have you tried Samsung Pay Service yet? Do share your views and experiences with us in the comments section below.
