As India is inching towards a cashless era, more and more companies are launching their online payment services. The latest among them is Samsung Pay, that was launched in India on March 22, 2017. It bundles in everything that you would need for a cashless transaction — credit card, debit card, and even your Paytm wallet.
One of the first smartphone companies to launch a digital payment service in India, Samsung Pay is simple, secure and is dramatically handy. So without further delay, let’s quickly round up a few Samsung Pay facts you need to know before using it in India.
1. Eligible Devices
On its nascent phase in India, Samsung Pay is available only on a few select devices. Currently, the following devices support Samsung Pay,
- Galaxy Note5,
- Galaxy S7/ S7 Edge
- Galaxy S6 Edge+
- Galaxy A7 (2016/17)
- Galaxy A5 (2016/17)
2. Getting Started
So, if you own any of the above devices, update your phone to the latest version so that you get Samsung Pay. Then you’ll have to activate the app by registering your fingerprint on it, which will be used every time you add a new card or transact using this app.
Once activated, tap on Add on the upper right corner and enter your card details either through scanning your card or entering the numbers manually. After you add in all the other card details like expiry date and CVV code, wrap it up with a fingerprint authentication.
What’s great about Samsung pay is that it doesn’t store any card information, instead, all transactions are made using a random tokenized version of your card number.
3. Payment on PoS
Samsung Pay uses NFC (near field communication) to communicate the transaction details. However, unlike other payment services like Apple Pay (yet not launched in India), it even supports MST (magnetic field communication). MST is the technology that is used in 90% of the PoS (Point of Sales) machines in India.
If the PoS machine is NFC enabled, all you have to do is align your phone with the keypad of the PoS. Whereas in MST machines, align your phone against the side until you get a slight vibration. Input the PIN on the machine and voila, the transaction is done. As easy as one-two-three, correct?
3. Supported Cards
Currently, Samsung Pay is supported by a majority of the banks such as Axis Bank, HDFC Bank, ICICI Bank, Standard Chartered, State Bank of India and the Standard Chartered Bank.
What’s more, it even supports the Paytm and will soon be integrated with the Unified Payments Interface (UPI).
Devices that support Samsung Pay comes equipped with the Samsung’s Knox security platform alongside other encryption methods. Knox continually monitors your phones for any signs of vulnerability or malicious content. And even if the phone is infected, all information related to Samsung Pay is kept safely within an encrypted vault.
Not only does it protect you from man-in-the-middle kind of attacks, it also masks the real card number from the card reader.
Moreover, payments can’t be initiated in the absence of your trusted fingerprints. Thus, you have an ample layer of security from keeping your information from falling into the wrong hands or your money landing in wrong places.
5. Using Gear S3
If you are one of those lucky few who owns a Samsung Gear S3 you’ll be able to able to set up Samsung Pay on it. The only difference is that you’ll be required to sign your name so that merchants will be able to verify if the wearer is the card holder.
When Are you Starting?
These were some of the facts about Samsung Pay in India. So if you own an eligible device, worry not if you forget the wallet at home next time. Samsung Pay will have you covered. If you ask me, I have been using this payment method ever since I got my Samsung A7. Amid a few surprised and shocking looks, the journey with Samsung Pay has been an interesting one.
So, when are you starting?