Samsung Pay will be accepted across First Data’s point-of-sale devices, including the Clover family of business management solutions. Additionally, First Data’s STAR Network, its independent debit network, will also support Samsung Pay.
Samsung Pay, which uses proprietary technology called Magnetic Secure Transmission (MST) along with Near Field Communication (NFC), is compatible with most existing payment terminals where the customer can tap or swipe the card. Samsung Pay is now available on the Galaxy S6 edge+, Galaxy Note5, Galaxy 6 edge and Galaxy S6 smartphones. Consumers simply launch the Samsung Pay app and scan their fingerprint to authorize the payment.
In South Korea, where Samsung’s smartphones have a commanding market share lead, Samsung Pay has processed more than 1.5 million total transactions worth about USD 30 million in its first month in South Korea with about 600,000 subscribers. The company’s plan are also to expand the service to the UK, Spain and China soon.
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