Once the Samsung Pay app is successfully installed on your device, you can start the authentication process. You can choose between 3 authentication methods. These are:
- Entering a PIN (4 digits)
- Scanning your iris
- Scanning your fingerprint
Next, add all the credit cards that you want to use. Finally, take a picture and provide your signature where necessary.
Is Samsung Pay Compatible with All Samsung Devices?
The date is June 16, 2016. It was when Samsung Electronics gave many people in Singapore something to smile about. Even the president of Samsung Electronics, Stephen Suh, couldn’t conceal his excitement regarding this matter.
Samsung Pay, the user-friendly and contactless digital payment service – that was only available before in Spain, US, South Korea, and China — officially became available in Singapore! And, the Singaporeans became the first people in Southeast Asia to enjoy the payment service.
Shortly after its introduction, Samsung Pay was beloved by many Singaporeans – and, it wasn’t a big surprise! With an easy-to-use and reliable system, of course, people will be impressed!
So, what is there to know about Samsung Pay?
How Do You Begin?
You can begin using Samsung Pay by going to the Play Store. There, you should download the official Samsung Pay app.
Samsung Pay incorporates Samsung’s MST Technology (proprietary Magnetic Secure Transmission) with NFC (or Near Field Communication) devices. This makes Samsung Pay (and the cards in it) acceptable to nearly all payment terminals – whether or not these are contactless payment terminals.
Samsung Pay, however, is not compatible with all Samsung devices. Devices that have advanced features, as well as those that run on Google Android Marshmallow, can allow you to download the Samsung Pay app.
The list of compatible Samsung devices:
- Gear S3
- Note5
- Samsung Galaxy A5
- S6 Active
- S6 Edge+
- S6 Edge
- S6
- Samsung Galaxy A7
- S7 Active
- S7 Edge
- S7
How Does Samsung Pay Work?
Samsung Pay works by acknowledging and accepting payments via the same machines that accept credit cards. Because of the MST feature, a magnetic signal is emitted on the credit card machines. And, this magnetic signal contains the necessary information for a transaction to be processed.
So, getting your Samsung device close to a credit card machine is virtually the same as swiping your card on a credit card machine. If you have a Samsung Pay app on your Samsung device, simply bring the device with you when you pay for your orders.
Alongside, Samsung Pay works with NFC terminals. This means that credit card machines that have MasterCard PayPass and VISA payWave logos can also acknowledge and accept payment via Samsung Pay.
Step-by-step guide:
- In front of a credit card machine, launch Samsung Pay. You can do this by swiping upwards from the home button.
- Choose the card that you want to use.
- Authenticate with your PIN (or your selected authentication method) to complete the payment.
How Many Credit Cards Can You Use per Samsung Device?
An advantage of using Samsung Pay on a Samsung device is the ability to store more than one usable credit card in that device. You can add up to 10 credit cards to a Samsung device.
Which Banks Support Samsung Pay?
Samsung Pay is widely accepted in Singapore. Unfortunately, not all banks support the payment service.
The major banks in Singapore that support Samsung Pay are:
- OCBC (or Oversea Chinese Banking Corporation)
- Standard Chartered Bank
- DBS (or Development Bank of Singapore)
- POSB (or Post Office Savings Bank)
What Makes Samsung Pay Stand out?
Samsung Pay is often compared to other digital payment services. “Samsung Pay vs Android Pay” and “Samsung Pay vs Apple Pay” aren’t rare comparisons.
Here’s a table to show their differences:
[wpsm_comparison_table id=”2″ class=””]
What Do You Need to Know about Security?
Why should you bother using Samsung Pay when using an actual credit card to make transactions is as easy and fast? Just like when you take out your device and use Samsung Pay, you can easily take out your card and be over and done with payment after a few minutes.
However, compared to the kind of security that physical cards offer, Samsung Pay gives better security – an extra layer of it. Samsung gives users the guarantee that making financial transactions with the app is perfectly safe – for them and for their accounts.
Here’s how Samsung Pay offers an extra layer of security:
- It uses encrypted digital tokens for sensitive credit card information.
- It is designed with Samsung KNOX; it identifies malicious software and watches out for dodgy activities.
Where Can You Often Find Payment Terminals That Accept Samsung Pay?
Since it works with MST and NFC payment terminals, you can find a lot of payment terminals that accept Samsung Pay all over Singapore – from convenient stores to stalls in shopping centres. Some of these places are Best Denki, 7-Eleven, Harvey Norman, Watsons, Cold Storage, Singtel, and Toast Box.
Are There Any Transaction Limits?
When using Samsung Pay on MST payment terminals, there is no transaction limit. But, when using the service on NFC payment terminals, SGD $100 is the allowable amount for every transaction.
Conclusion: It’s Time to Join the Bandwagon of Samsung Pay Users
After these frequently asked questions were answered, hopefully you could see that Samsung Pay allows you to make transactions with a credit card much easier! And, after reading up on the digital payment service, you may agree that yes, it’s time for you to join the bandwagon of Samsung Pay users.
One of the most fascinating aspects about Samsung Pay is that it’s usable virtually everywhere – everywhere where your card works! As long as you have a compatible Samsung device, you can get your card ready for payment. Within a few minutes, you can be good to go!
For more information, simply check out the Samsung Pay section of Samsung’s website.
Do you agree that you should be a Samsung Pay user just like many Singaporeans? How come? You’re welcome to share your thoughts. Just leave them on the comments section below.
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