Today sees the long-awaited Samsung Pay UK release. If your business has a contactless-enabled terminal, your customers can now use Samsung Pay to make a payment.
The newest rival in the mobile wallet sector has been eagerly awaited by Samsung owners. Delays in negotiations meant that the Samsung Pay UK release was postponed in 2016. It has been used around the globe for over a year, popular in the US and China.
Samsung smart device owners can now make payments on compatible mobile phone, tablet and smart watch. The app is available to download for free on the Galaxy Apps Store.
Along with NFC technology like Apple and Android Pay, Samsung have introduced additional features. Their unique magnetic stripe technology feature gives out a magnetic signal when near a mag-stripe terminal.
The release of Samsung Pay in the UK means that users can pay on more card machines than ever before. This allows you to pay at 30 million places around the world.
Its security features are similar to other mobile wallets. You verify each purchase with a fingerprint or a unique pin code. Your card information is never given away or stored on the phone, it is encrypted to reduce fraud.
Samsung Pay is backed by VISA, and is now available to those who bank with MBNA, Nationwide and Santander. Samsung revealed that HSBC and Amex are also backing the app, and access will be rolled out to those customers in the future.
With the move towards a cashless society, can your business afford to miss out on contactless payments? Following to Samsung Pay UK release, all new terminals supplied by Handepay can process a variety of mobile wallet transactions. Get in touch with one of our advisors to find out how your company could benefit.