Samsung Pay was introduced in Russia on September 29, 2016. Samsung Pay is virtually accepted virtually everywhere, thanks to NFC (Near Field Communication) and MST (Magnetic Secure Transmission).
The customers of the state run Gazprombank, the SKB-Bank and the Bank Soyuz, who hold cards issued by MasterCard, can now make convenient and secure payments with Samsung Pay. The service will be supported on all compatible Samsung smartphones and compatible Samsung wearable devices.
The Head of Samsung Mobile Russia, Mr. Dmitry Gostev stated that the Expansion of the Samsung Pay network in Russia was one of their priorities. They were also pleased that Samsung device users will have more opportunities to use the latest technologies in their daily lives. Its also nice to see that Samsung does not charge a single dime as Commission from both the customers and the banks!
Dmitry Gostev also said "Samsung Pay is one of the most convenient tools for paying for purchases. It is fast, easy to use. In addition TO THAT, the service also supports both Bank Cards and Club Cards! We are sure that the MasterCard Holders of the Gazprombank, SKB-Bank and Soyuz Bank, will appreciate the ease and convenience of making payments through Samsung Pay"
Dmitry Gostev also said: "Expansion of the Samsung Pay network in Russia is one of our priorities. We are pleased that Samsung device users have more opportunities to use the latest technologies in their daily lives and are confident that the owners of MasterCard's Gazprombank cards will appreciate the ease and convenience of making payments through Samsung Pay, "
Andrei Frolov, director of the payment card department at Soyuz Bank, said: "I am pleased to announce the launch of the Samsung Pay service. Now contactless payments can be made with the help of the phone. This service is now available to all holders of Mastercard cards from Soyuz bank. This is a safe and convenient way of payment, which, of course, will appeal to our customers. Samsung Pay allows you to pay using the phone wherever you accept payment cards. "
MST technology was introduced by Loop Pay, which is owned by Samsung. It works by generating changing magnetic fields over a very short period of time.
Since April 11, 2017, Samsung Gear S3 classic and Gear S3 frontier owners have been able to make purchases using the Samsung Pay service. Thanks to Samsung MST technology, they can now pay not only on NFC terminals but also where proximity cards are not supported. In order to use the service, users need to press and hold the "BACK" button on the Gear S3 case, select the card by turning the bezel and click "PAY".
Samsung Pay does not store the account or credit card numbers of cards on the device. Once a purchase is made, the Samsung Pay handset sends two pieces of data to the payment terminal. The first is a 16-digit token that represents the credit or debit card number. While the second piece is a one-time code or cryptogram generated by the phone's encryption key.
At the moment, the service is already available to the Card holders of the the following banks and other organizations: PJSC AK BARS Bank, Alfa Bank, Binbank, VTB24, Gazprombank, Devon-Credit Bank, Credit Ural Bank, MegaFon, MTS Bank, Bank Otkrytie, Promsvyazbank, Raiffeisenbank, Roketbank, RosEvroBank, JSC Rosselkhozbank, Russian Standard Bank, Bank Saint Petersburg, Sberbank, Tinkoff Bank, Point and Yandex Money.