Samsung pay is quickly and regularly expanding and it is currently operating in many banks and shopping centers. This “tap and pay” platform allows users to seamlessly and securely pay for goods or services at outlets which have Point of Sale (PoS) terminals. Since the official launch of Samsung Pay in August 2015, this payment platform has expanded to banks, shopping complexes and ATMs.
So far, this app has been updated several times since September 2015 times in order to guarantee security and performance updates and now, a new update just arrived.The Samsung Pay App can be updated from the Galaxy Apps Store and the latest version is: 2.8.74. The new update has the following features:-
Please note that apart from fees that may be charged by partner banks or shopping centers, Samsung doesn’t charge anything for the use of the Samsung Pay payment platform.
Samsung Pay security is tight as it comes with three levels of security – fingerprint authentication, card tokenization, and Samsung’s defence-grade mobile security platform Samsung KNOX thereby making one of the most secure and widely accepted payment services. Samsung Pay utilizes Near Field Communications (NFC) just like other payment platforms. This enables a secured transmission of card information to the retailers. Samsung also uses Magnetic Secure Transmission (MST) because some retailers do not have NFC in their system. MST works as an alternative to NFC for card terminals who do not have an active NFC. This allows Samsung Pay to function almost anywhere cards are accepted. Shoppers can securely pay for their purchases using their Samsung smartphone or smartwatch.