When Samsung presented its own mobile payment support in the United States at the end of last month, the well known by now Samsung Pay, it did not have one major partner for this option: Verizon. This is the organization that operates AOL and TechCrunch, but recently the giant South Korean producer has eliminated this problem after it launched the Google Play application particularly for Verizon clients.
The application is suitable for Samsung’s Galaxy Note 5, S6, S6 Edge and S6 Edge+ mobile phones. The company was already collaborating with Sprint, AT&T and T-Mobile clients on release, those users being eligible for the New Samsung Pay and receiving its over-the-air upgrade to carry the service into their smart phones. People can also get the application by online downloading if they want, but its main objective is to deliver the mobile payment option to Verizon’s client base, with more than 100 million subscribed members.
Anyone who is a Verizon customer and with a phone that has to be modified to support Samsung Pay, will be persuaded to obtain the required updates after the application’s setup procedure. Once it is installed, they can open the Samsung Pay app, write the necessary data and immediately begin paying for their expenses straight from a certified Samsung phone, as Samsung described the procedure in a short article.
Samsung Pay’s mobile payment technology, which was obtained through purchasing LoopPay for over $200 million, is an amazing idea for today’s ever-growing mobile transactional market. It operates based on magnetic bands, as well as NFC and EMV payment devices, considering that its main competitors, Android Pay and Apple Pay, are restricted only to the NFC payment method. But, Samsung’s impact is a bit limited given the number of mobile phones that are compatible with its technology and the number of financial associates ready to facilitate these transactions.
Until a few months ago, referring to mobile expenses without using terms like complicated or messy was basically a lie about their rather limited capacities. A complex mix of financial institutions, service providers, producers, point-of-sale techniques and all other competitive businesses behind those companies made paying with a smartphone untrustworthy. These issues are lastly starting to disappear thanks to a broader adoption and easier back-end methods, but they are not completely gone yet.
Even with Google Wallet, Apple Pay and the recently released Android Pay, customers cannot be fully assured that a tiny NFC symbol that they see on payment terminals tells them they can simply tap to buy something. Samsung now believes that it has the ideal remedy for this last issue and obviously enough payment options are integrated into the Samsung Pay. To remove the uncertainty that more shops will use mobile payments methods, Samsung uses a smart element of technology that allows clients to pay at any terminal which accepts their own bankcard. The secret to success came thanks to small coils that read the same code these terminals normally receive from a credit card.
Image source: Talkandroid