As of now, Samsung's payment platform, Samsung Pay, is a household name when it comes to easy and swift electronic payments. Over the past two years, this payment platform has extended its tentacles to banks, shopping centers, and other numerous financial institutions across Asia, North America, South America, Europe and the Middle East. As of now, there are about 6.44 million active Samsung Pay users while payments made through this system hit 10 million won recently. Today, Samsung announced that its electronic payment platform is now compatible with CJ CGV. CJ CGV is South Korea's top theater chain. This development means that you can stroll into the theatre with your Samsung Pay compatible smartphone and make payments for whatever you need.
When Samsung Pay was launched in August 2015, CJ CGV theaters accepted the payment platform but some disputes over discounts and points led to its suspension. From the current announcement, it is clear that both institutions have ironed out their differences and they can now move ahead. A Samsung official stated that with this agreement, Samsung Pay can now be utilized in most parts of South Korea save for a few "gas stations, express bus services, and vending machines". For now, only offline purchases are available at CJ CGV theaters using Samsung Pay but talks are currently on to bring online transactions to the system.
Samsung Pay is desirable because it is swift, easy and works almost everywhere. This is because it uses Near Field Communication (NFC) or Samsung’s patented Magnetic Secure Transmission (MST) technology. These technologies are quite common and they are present in most retail centers. If the center takes credit cards, there is a very high probability that Samsung Pay in that system. In the absence of MST, NFC can get the job done thus you can still use Samsung Pay at that terminal. Customers can securely pay for their acquisitions using their Samsung smartphone or smartwatch.