All posts tagged "Samsung Pay"

Samsung Pay Vs Google Pay: Everything You Need To Know In today’s internet age, making one-click, contactless payments with little to no extra charges has become commonplace. One-tap payment apps offer many conveniences and give you the ability to go cash-free so you never have to worry about forgetting your wallet again, and also allow you to make purchases via different payment options including credit cards, vouchers, bank transfers, and more features cash can’t offer. Currently, Samsung Pay and Google Pay are two of the most popular contactless payment apps in the market. Though both of them offer similar core features, there are slight distinctions in their integration, cross-country availability, and extra features offered. Some of these are listed below: See Also: How To Remove Samsung Pay From Home Screen One of the biggest differences between Samsung Pay and Google Pay is that Samsung Pay is a default app on most Samsung devices but doesn’t work on other Android models. Google Pay, on the other hand, is available for most Android and even iOS devices. However, Google Pay for iOS is not that common as most Apple users use Apply Pay. Both apps work with most cards and bank partners. The key difference is Samsung Pay offers an option to pay via PayPal in various countries, but Google Pay only offers PayPal payments in the U.S.Though both apps offer similar card and bank partnerships, Google Pay has a slight edge with almost twice the number of countries available. Google Pay is available in 42 countries while Samsung Pay is only available in 23 countries. Samsung Pay is quite convenient to use. The app offers swipe-up payment options straight from your home screen and lock screen so you can instantly pay on the go. The best part of using Samsung Pay is Samsung Rewards. You can earn “points” for every purchase made using the app. These points can later be redeemed for any purchases on the Samsung app or official website. A feature like this can help you save money every time you go shopping. Google Pay is great for using loyalty cards, memberships, gift vouchers, coupons, and other non-monetary payments — but it doesn’t have its own rewards system for using it. The best feature of Google Pay is the peer-to-peer payment option. Here, you can send money to any of your friends and family members who use the app. Users can send individualized payments to a single person or form groups and request money from each other. This is a great tool for splitting the bill or paying half of the rent. Samsung Pay also offers a similar feature, but it requires you to sign up with Samsung Pay Cash. Samsung Pay Vs Google Pay: Everything You Need To Know History Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that lets users make payments using compatible phones and other Samsung-produced devices. The service supports contactless payments using near-field communications (NFC) but also supports magnetic strip–only payment terminals by incorporating magnetic secure transmission. In India, it also supports bill payments. In South Korea, Samsung Pay can be used for online payments and to withdraw money from selected banks' ATMs. The service was launched in South Korea on August 20, 2015, and in the United States on September 28 of the same year. In 2016, at the International Consumer Electronics Show (CES 2016), the telecommunications company announced that Samsung Pay would be coming soon to a variety of banks in Australia, Brazil, Spain, and Singapore. See Also: Windows 11 Tips: Top Windows Shortcut Keys For Windows 11 Users Samsung Pay was developed from the intellectual property of LoopPay, a crowdfunded startup company that Samsung acquired in February 2015 for an estimated $300m, one of the largest acquisitions made by the firm. The service supports both NFC-based mobile payment systems (which are prioritized when support is detected), as well as those that only support magnetic stripes. This is accomplished via a technology known as magnetic secure transmission (MST), which emulates the swipe of a permanent magnet strip past a reader by generating the near-field magnetic waveform directly. In Mainland China, Samsung Pay supports In-app payments, QR code payments (Alipay, and WeChat Pay), and public transportation cards in Beijing, Shanghai, Guangzhou, Shenzhen, and other cities. In Hong Kong, Samsung Pay can be linked with Octopus cards, called Smart Octopus, to make electronic payments with stored value service for payments in online or offline systems. In May 2020, Samsung Pay unveiled Samsung Money by SoFi, a mobile-first money management experience that makes available a cash management account and accompanying Mastercard debit card via the Samsung Pay app, in partnership with fintech company SoFi. Security Samsung Pay's security measures are based on Samsung Knox and ARM TrustZone technologies; credit card information is stored in a secure token. Payments must be authenticated using a fingerprint scan or passcode. Samsung Pay will not work with devices whose Knox warranty bit is tripped. How to use Samsung Pay To make a payment Step 1: Open Samsung Pay on your phone. Step 2: Tap the Pay tab, and select your preferred card. Tap Pay again and then choose your desired security option, such as entering your PIN or fingerprints. Step 3: Enter the required security information or simply place your finger on your phone's fingerprint scanner. Step 4: Hold the back of the phone up to the contactless reader and perform your desired actions to complete your purchase. Samsung Pay has a lot to offer potential customers — but you’ll need a Samsung phone to use it, which keeps down its potential userbase relatively low. It also means that if you switch phones to another brand, well, you’ll need to set up a new mobile payment system. With that in mind, even though Samsung Pay has its own rewards scheme, Google Pay appears to be a better choice for most people. Thanks for reading SAMSUNG PAY VS GOOGLE PAY: Everything You Need To Know. You can click to read about GOOGLE PAY: Everything You Need To Know. Don't Forget To Like, Comment, and Share with your friends.

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All posts tagged "Samsung Pay"

Samsung Pay Vs Google Pay: Everything You Need To Know.

How To Remove Samsung Pay From Home Screen

SAMSUNG PAY: Everything You Need To Know

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