Samsung might be losing its title as the world’s largest smartphone maker to Apple, but the company isn’t going down without a fight.
The South Korean company unveiled Samsung Pay—the company’s answer to Apple’s mobile payments system, Apple Pay—at this year’s Mobile World Congress in Barcelona on Sunday. Samsung Pay will be “compatible with more locations than any competing offering in a single application,” and protected by Samsung KNOX (Samsung’s mobile enterprise security systems), fingerprint scanning and advanced tokenization, the company said.
Samsung Pay’s high compatibility is made possible by its use of magnetic secure transmission (MST), a technology that allows Samsung Pay to work with even older credit card readers. So far only Samsung uses the MST technology, thanks to its acquisition of the mobile payments startup LoopPay last month. Like Apple Pay, Samsung will also employ near-field communication (NFC), which allows contactless payments at pay terminals.
Samsung Pay will launch on the Galaxy S6 and the Galaxy S6 Edge in the U.S. during the second half of 2015.
- Column: The Tyre Nichols Videos Demand Solemnity, Not Sensationalism
- For People With Disabilities, Losing Abortion Access Can Be a Matter of Life or Death
- Inside the Clandestine Efforts to Smuggle Starlink Internet Into Iran
- How to Help the Victims and Community After the Monterey Park Shooting
- The Biggest Snubs and Surprises of the 2023 Oscar Nominations
- Talking Less Will Get You More
- Kamala Harris Subtly Emerges as Powerful White House Asset
- How Avatar: The Way of Water Became the 6th Movie in History to Make $2 Billion
- Is There Really No Safe Amount of Drinking?
- How Our Cells Strategize To Keep Us Alive