TECHNOLOGY BEHIND SAMSUNG PAY

Samsung Pay is new method of mobile payment and digital wallet. Samsung first launched this payment method in 20th Aug 2015, This technology was developed by a crowdfunding company called LoopPay later samsung acquired it in February 2015.

The Samsung pay incorporates two technologies NFC and MST.

Where as MST is Magnetic Secure Transmission used in your Debit and Credit cards. This technology is combined with NFC Near Field Communication to perform mobile payment.

What is NFC(Near Field Communication)?

NFC enables communication between two devices with short distance (~ 4cm), There are NFC tags available in market. you can program this NFC tags to preform different tasks.

You can program this NFC Tags and paste them on your cars to automatically enable google maps. when you entered into car

or

Program your contact in this NFC tag and keep it in your wallet so every time when someone ask your phone number just ask them to tap on your wallet automatically contacts send to their mobile. 

Watch this Video:

This is the same technology used in Samsung Pay. your card details will stored in your mobile NFC when you place your mobile near swiping machine your card details will transfer to swiping machine. than as usual you have to enter the pin to approve transaction. But still most of us will have this question in mind.

Will Samsung Pay work in normal swiping machines?

Yes, Samsung Pay is Combination of NFC and MST. So a normal swiping machine that works on MST will also support Samsung Pay.

See how Samsung Pay work with normal swiping machines

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