Samsung Pay
Samsung Pay

To date, cash is gradually disappearing from everyday life and most of the purchases are made with the help of plastic cards. Everyone has a card, they are paid a salary, a scholarship, a pension, and so on. In each outlet there must be at least one terminal for payment with a plastic card. Bank cards have become an integral part of our lives and the destruction of cash is only a matter of time.
The next step in the development of technology is contactless payment. Many cards already support this technology and allow you to make purchases only by attaching the card to the terminal. This technology served as a catalyst for the emergence of specialized chips and payment systems in devices that we literally do not release from the hands – in our smartphones.

In 2016, Russia launched the Samsung Pay service, which allows owners of phones from the Samsung Galaxy series to make payments from bank cards without using the bank cards themselves. The article will deal with how Samsung Pay works, how safe it is and with what difficulties users will face. Compare the technology with the solutions of competitors.

System requirements

To begin with it is necessary to find out, on what devices Samsung Pay works. This technology requires not only software innovations, but also hardware, so you need to make sure that your smartphone supports this technology or not.
So, the payment system Samsung Pay works with the following gadgets:
Samsung Galaxy S8;
Samsung Galaxy S7;
Samsung Galaxy S6 (with limitations);
Samsung Galaxy Note 5
Samsung Galaxy A7
Samsung Galaxy J7 (2017);
Samsung Gear S3.
These are those devices from Samsung that are equipped with NFC or MST chips and support modern software.
Unlike Apple or Google products, Samsung Pay looks very limited, because the number of supported devices is much lower. In the case of Apple, we get support for all smartphones released from 2014 (from 2013, if you connect Apple Watch), and in the case of Google supported in general, any gadgets that can install the official Android version 4.4, and such in the world hundreds Thousand.

Which banks work with Samsung Pay?
As in the case of other payment systems, the launch of the payment system was accompanied by a number of restrictions. For example, Sberbank concluded an agreement with Apple on an exclusive launch and for this reason Samsung lost the opportunity to connect this bank before the contract expires. Now the situation has stabilized and almost all popular banks work with all payment systems.
So, the banks that work with Samsung Pay are the following:
Sberbank.
BinBank.
GAZPROMBANK.
“Opening” (Roketbank).
“Russian standard”.
“Tinkoff”.
And the electronic wallet
“Yandex.Money”.
It is important to understand with what cards Samsung Pay works. To connect to a payment system, you need a card that supports PayPass or PayWave. In the case of Visa cards, there are restrictions on the number of banks that work with Samsung Pay. With restrictions you can find on the official website of the company.

How to connect?
To start using Samsung Pay, you need to make sure that your gadget supports the payment system and download the application of the same name. When you enter the application, it will ask you to set a password (or fingerprint) to lock the screen. In the future, a pin or fingerprint will be used to confirm transactions. Then you need to attach the card itself. You can do this in two ways: manually, by entering all the data, or automatically by pointing the camera at it. The second option works well, but you still have to enter the CVV code yourself. If the card is suitable for the application, then immediately after this procedure, a check from the bank will follow. You will receive an SMS with a code to activate the payment system, without it you will not be able to make further payment. The final step is the addition of an electronic signature. It is very rare,

Is it safe to use Samsung Pay?
The issue of security worries users first. New technologies always inspire fear, especially when it comes to money. Even the bank cards were taken with difficulty. Concerning the security of the matter, the situation is as follows. In a nutshell, Samsung Pay is the safest way to calculate, which is safer than conventional cards. In more detail, smartphones use a special tokenization system. When a user attempts to make a payment, the phone does not use the data from the card, but creates a digital impression, each time unique, and shared with the terminal. The terminal is in contact with the bank and reports on successful payment (unless, of course, you have run out of money).
Information about tokens is stored in the gadget itself, so you can pay for something even without the Internet. Do not forget that each purchase must be confirmed, and for this the user must enter the pin code or attach his finger to the fingerprint sensor. Even if an intruder with a portable terminal creeps in on you, he can not steal a penny from you, because he will not be able to confirm the payment.

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