Samsung almost always aces in enthusing the tech freak in us. While Bixby looks like a pleasant surprise, Samsung has something else in store for us with their new addition in the Galaxy series. India is going cashless and literally all our wallets seem to be like a pile of all the possible cards available.
Now you do not need your differently coloured, multi functional, multiply branded credit and debit cards to get you going. All you need is a feature on your smart phone. Thanks to Samsung, Smart Phones are living up to their names completely.
SIMPLICITY, SECURITY, AVAILABILITY!
Source – phonearena.com
Samsung claims that Samsung Pay as a wallet is not only simple to use, secure to keep but also can be used everywhere. The simplicity comes because it is a 3 part process, where you do not need to learn a new function at all. All you need to do is launch the app by swiping up on your screen, authenticate your identity by either entering the pin or scanning your fingerprint. The third step is to simply use a function like the NFC touch where your phone just needs to come in contact with a machine and the payment is made.
For people who do not entrust digital banking yet, Samsung Pay has an amazing system for security. After you authenticate the phone with your fingerprint, you will need to enter a Samsung Pay pin just like your 3D Secure Transactions. Needless to say, we would like to add a disclaimer already which requests you to not share your pin with anybody.
The security is then taken a step further by assigning random token numbers to each transaction that helps you undertake digital tokenization. With this feature, you do not need to give out the card number for any payment you make. The third and the most vital feature is of SAMSUNG KNOX, which ensures constant monitoring for vulnerabilities of the phone. If you lose your phone or somebody else tries to gain access to your wallet with the help of your credentials, the card information is still kept safe through high end encryptions.
Source – valortop.com
The best function of Samsung Pay is the provision of the MST and NFC. With Magnetic Secure Transmission and Near field Communication technology backing it up, Samsung Pay works almost everywhere with ease. MST is Samsung’s Patented Technology and due to the Magnetic transmissions, any vendor can accept payment on regular card machines making it one of the most technologically advanced mobile wallets to have been introduced in the wake of digitization. It can be used in any place where you can swipe or tap a card, making all your endeavours possible with an ease of a click!
KEEPING THE EASE OF ORIGINALITY
For patrons who have recently got the hang of mobile wallets, this technology might be slightly difficult to comprehend. But, at the moment Samsung has partnered with PayTm to keep the original functions of a mobile wallet intact. You still have the show code, send money and scan code option available for your usage. You can integrate your PayTm wallet and have the best of both technologies.
OFFERS, OFFERS EVERYWHERE!
Source – Samsung.com
Like every new introduction in the market, even this technology comes with a lot of lucrative gratification options for the consumers. There are deals and offers available pan genres in the market. At the moment, there are offers from Axis Bank, HDFC Bank, Barista, SBI, ICICI, Paytm, Standard Chartered, Visa and Inox.
With so many big names backing up this technology, Samsung Pay is going to be the new way of money management! Let us know, how well does it fare in your eyes after using it!