What is Samsung Pay?
Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics. This service allows users to make payments using compatible phones and other Samsung-produced devices. The platform mimics a card swipe, enabling your device to pay at nearly any payment terminal.
The Functionality
Samsung Pay integrates Near Field Communication (NFC) and its proprietary technology, Magnetic Secure Transmission (MST). MST technology extends Samsung Pay’s compatibility beyond NFC terminals, enabling it to work with any point-of-sale system that accepts credit and debit cards.
To facilitate payments, you only need to select your preferred card, authenticate the transaction with a fingerprint, pin or iris scan, and tap your phone to the terminal.
Safety Measures
Samsung Pay ensures your financial details are safe from unauthorised access through tokenization. For every transaction, Samsung Pay uses a randomised series of numbers instead of your actual card details. This implies that even if a terminal is compromised, your card details will still be safe.
Is Samsung Pay a Good Payment Method for People in the UK?
Ease of Use
Its simplicity is a significant point in Samsung Pay’s favour for UK customers. With the rapid digitisation of our daily lives, having a payment gateway at your fingertips offers unparalleled convenience.
Extensive Reach
The MST technology makes Samsung Pay extra impressive for people in the UK. This innovation allows Samsung Pay to be used nearly everywhere and greatly surpasses services like Apple Pay and Google Pay, which heavily rely on NFC-compatible payment terminals.
Support from Major Banks
Major banks in the UK, including Barclays, HSBC, Nationwide, and the Royal Bank of Scotland, are supportive of Samsung Pay, further solidifying its place in the UK’s digital landscape.
Attractive Reward Programmes
Samsung Pay also has a reward programme, Samsung Rewards, that allows you to earn points for every transaction, which can be redeemed in various ways.
However, it’s worth noting that Samsung Pay is only available to individuals with Samsung devices, which somewhat limits its reach compared to other platform-agnostic mobile payment options.
The Verdict
Without a doubt, Samsung Pay is a robust payment platform for people in the UK. Its extensive reach, ease of access, and robust security measures make it an excellent payment method for Samsung device owners. Nevertheless, the choice to use Samsung Pay will ultimately depend on personal preferences, compatibility with your bank, and your device type.