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Samsung launches its own Mobile Money platform called PAY

Today, Samsung has announced a new mobile payment service called Pay, which will allows users to make payments in-store instead of using their payment cards.

The device maker has partnered with MasterCard and Visa, meaning it will be widely accepted, which has previously been a barrier to mobile payments until now.

Samsung said it had the potential to be accepted in 30 million stores today.

The service which Samsung said it had the potential to be accepted in 30 million stores today uses NFC and mag stripe technology to achieve its ends.

To use it, you’ll need to just add a payment card to the app, and then swipe up from the bezel to choose your saved card. The whole process is authenticated using the fingerprint sensor built into the S6 and S6 Edge.

Samsung has said the service will be live this summer.

Via TNW

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Ephraim Batambuze III

Digital guy, Web developer, Tech blogger, Gadgets Reviews, Geeky dad. Email:ebatambuze@gmail.com Twitter:@batambuze WhatsApp/Telegram:+256781665128 Skype:ebatambuze
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