The mobile payment solution provides a private way to make mobile payments, without having to hand over cash or share payment card details for each new transaction.
PayGate’s officials stated that Samsung Pay removes the need to search through a wallet or purse for payment cards, which contributes to a seamless payment journey. On top of this, every transaction is authenticated and authorised by the customer’s fingerprint or PIN on their Samsung device, adding an extra layer of security to online payments.
According to PayGate, Samsung Pay has put measures in place to ensure actual card information is never stored on a customer’s device, or on Samsung servers. Instead, each time a payment is made, the card number is substituted for a token, effectively creating a virtual version of the card with a completely different set of digits. This ensures consumer details remain encrypted and secure.
Samsung Pay is integrated with a number of major banks, including Absa Bank, Capitec Bank, Discovery Bank, FNB, Investec, Nedbank, RMB Private Bank, and Standard Bank, for online payments and checkout. Merchants who offer Samsung Pay to their online customers can do so through their PayGate account.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now