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Samsung Pay

From Alfawiki
Samsung Pay
Company typeService
IndustryMobile payments, Digital wallet
FoundedAugust 20, 2015; 11 years ago (2015-08-20)
FounderSamsung Electronics
Headquarters
Suwon
,
South Korea
Area served
Worldwide (select countries)
ProductsMobile payment solution, digital wallet service
OwnerSamsung Electronics
Websitewww.samsung.com/samsung-pay/


Template:Use mdy dates Template:Infobox software

Samsung Pay (branded as SΛMSUNG Pay) is a mobile payment solution and digital wallet service managed by the South Korean corporation Samsung Electronics. It enables transactions through compatible Samsung smartphones and other devices, accessible via the Samsung Wallet application.

Introduced in 2015, this platform facilitates contactless payments by utilizing near-field communications (NFC) technology. Additionally, it supports payment terminals that only accept magnetic stripe cards by employing magnetic secure transmission (MST) on devices launched prior to 2021.[1][2] In India, the service also includes bill payment capabilities.[3]

Service

The foundation of Samsung Pay originated from the intellectual property of LoopPay, a crowdfunded startup acquired by Samsung in February 2015 for approximately $300 million, marking one of the company's largest acquisitions. The platform integrates both NFC-based mobile payment methods—which are given precedence when available—[4] and systems limited to magnetic stripe functionality. This functionality is enabled through a technology called magnetic secure transmission (MST), which simulates the magnetic field generated by a physical card swipe by producing a near-field magnetic signal. Developers at LoopPay indicated that this approach allows compatibility with almost 90% of all point-of-sale terminals across the United States, excluding those requiring physical card insertion.[2]

On compatible smartphones, users access Samsung Pay by swiping upward from the bottom edge of the display. The app supports adding multiple credit, debit, and loyalty cards which can be navigated through horizontal swipes on the screen.[4]

Within South Korea, Samsung Pay extends its use to online transactions[5] and enables cash withdrawals from select banking ATMs.[6]

In Mainland China, Samsung Pay accommodates in-app purchases, supports QR code payment methods such as Alipay and WeChat Pay, and integrates with public transit cards used in cities including Beijing, Shanghai, Guangzhou, and Shenzhen.

For users in Hong Kong, Samsung Pay offers integration with Octopus cards via Smart Octopus functionality, facilitating electronic payments through stored value for both online and offline transactions.[7]

The Indian market benefits from Samsung Pay’s compatibility with the Unified Payments Interface (UPI) and BharatQR, although this integration applies solely to bank accounts rather than credit cards as seen with other platforms like Google Pay.[8] Furthermore, bill payments are supported through the Bharat Bill Payment System (BBPS).[3]

In May 2020, Samsung introduced Samsung Money by SoFi, a mobile-centric financial management service providing users with a cash management account and an associated Mastercard debit card accessible via the Samsung Pay app. This offering was developed in collaboration with fintech firm SoFi.[9]

By June 2022, Samsung Pay was rebranded as Samsung Wallet across several countries including the US, UK, France, Germany, Italy, and Spain. This rebranding introduced new functionalities such as storing digital assets and digital keys within the Wallet application. Although South Korea retained the original "Samsung Pay" name for its app version, these enhancements were also incorporated there.[10][11]

In Saudi Arabia, Samsung Wallet supports not only Visa and Mastercard but also allows users to add Mada cards. Mada is recognized as a principal payment network within Saudi Arabia.[12]

Security

Samsung Pay employs advanced security protocols rooted in Samsung Knox and ARM TrustZone frameworks. Instead of storing actual credit card details, it utilizes a safeguarded token system. Users must verify payments through biometric fingerprint recognition or by entering a passcode.

In August 2016, security analyst Salvador Mendoza revealed a possible vulnerability in Samsung Pay, highlighting that its security tokens lacked adequate randomness, potentially making them predictable. Mendoza also developed portable devices capable of skimming magnetic secure transmission tokens and emulating magnetic stripes on genuine card readers using these tokens. Samsung addressed the findings by affirming their commitment to promptly investigate and resolve any identified security issues.

Samsung Pay is incompatible with devices that have compromised Knox security integrity.

Availability

File:Samsung Pay Availability Dec 2024.svg
Worldwide Samsung Pay availability

Supported countries

In May of 2016, reports emerged indicating Samsung was developing a variant called Samsung Pay Mini. This iteration focuses exclusively on online transactions and aims to function across multiple platforms. By January of the following year, Samsung confirmed that Samsung Pay Mini would extend beyond Galaxy devices to other Android smartphones running at least Android Lollipop with a minimum screen resolution of 1280 ×720 pixels. Samsung officially introduced Samsung Pay Mini in June of 2017; initially available on Galaxy J7 Max/On Max models within the Indian market. The app's availability depends not only on the country where the payment card is issued but also on the device’s country-specific code (CSC). Consequently, devices manufactured for unsupported regions cannot access Samsung Pay even if physically located in a supported area with a local SIM installed. When this occurs, users encounter the generic error message: "Connection error. Unable to connect to Samsung Pay temporarily. Try again later." In June of 2020, Samsung announced a collaboration with Curve and Mastercard to launch the Samsung Pay Card in the United Kingdom and additional EE countries where Curve has an established user base. Starting September of 2021, Samsung expanded Samsung Pay Mini support to include Galaxy A and M series smartphones.

Galaxy S Series

Galaxy Note Series

Galaxy Z Series

Galaxy A Series

Galaxy M Series

  • Samsung’s mid-range lineup featuring the M52 5G
  • The M42 5G model, also marketed as the Samsung Galaxy A42 5G in different markets
  • Samsung’s M31 and M23 5G smartphones

Galaxy J Series

  • The J5 and J7 models from 2016
  • The J5 (2017) and J5 Pro variants
  • The J7 (2017) alongside the J7 Pro edition
  • The J7 Max released in 2017

Galaxy C Series and Additional Devices

These devices support Samsung Pay and are accessible to users in Hong Kong, Macau, and China.

Wearable Devices

See also

References

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  4. ↑ 4.0 4.1 Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
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  6. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  7. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  8. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  9. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  10. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  11. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).
  12. ↑ Lua error in Module:Citation/CS1/Configuration at line 2123: attempt to index field '?' (a nil value).

Template:Samsung Electronics Template:Digital payment providers

Launch Date

(In chronological order)

Countries Supporting Payment Cards Samsung Wallet Status
August 20, 2015 South Korea South Korea Template:Ya
September 28, 2015 United States United States Template:Ya
March 29, 2016 Template:Country data ChinaTemplate:Namespace detect showall China Template:Ya
June 2, 2016 Spain Spain Template:Ya
June 15, 2016 Australia Australia Template:Ya
June 16, 2016 Singapore Singapore Template:Ya
July 13, 2016 Template:Country data Puerto RicoTemplate:Namespace detect showall Puerto Rico
July 19, 2016 Template:Country data BrazilTemplate:Namespace detect showall Brazil Template:Ya
September 28, 2016 Russia
As of March 2022, Samsung Pay for Mastercard and Visa is disabled due to international sanctions linked to the 2022 Russian invasion of Ukraine and financial instability in Russia. Since April 2024, Mir cards were removed from Samsung Pay; however, Samsung Wallet remains active in Russia without Samsung Pay. 		Template:Ya
November 8, 2016 Canada Canada Template:Ya
February 24, 2017 Template:Country data MalaysiaTemplate:Namespace detect showall Malaysia Template:Ya
March 22, 2017 India India Template:Ya
April 27, 2017 Sweden Sweden Template:Ya
Template:Country data United Arab EmiratesTemplate:Namespace detect showall United Arab Emirates Template:Ya
May 16, 2017 United Kingdom United Kingdom Template:Ya
May 23, 2017 Switzerland Switzerland Template:Ya
Template:Country data TaiwanTemplate:Namespace detect showall Taiwan Template:Ya
May 25, 2017 Template:Country data Hong KongTemplate:Namespace detect showall Hong Kong Template:Ya
September 28, 2017 Template:Country data VietnamTemplate:Namespace detect showall Vietnam Template:Ya
November 15, 2017 Template:Country data BelarusTemplate:Namespace detect showall Belarus
March 22, 2018 Italy Italy Template:Ya
April 26, 2018 France France Template:Ya
August 21, 2018 South Africa South Africa Template:Ya
March 23, 2019 Indonesia Indonesia Template:Ya
January 21, 2020 Template:Country data KazakhstanTemplate:Namespace detect showall Kazakhstan Template:Ya
September 20, 2020 Template:Country data KuwaitTemplate:Namespace detect showall Kuwait Template:Ya
October 28, 2020 Germany Germany Template:Ya
August 23, 2022 Template:Country data QatarTemplate:Namespace detect showall Qatar Template:Ya
October 31, 2022 Denmark Denmark
style="background:#fff; "| File:Flag placeholder.svg Finland
style= " background: #fff; "| File:Flag placeholder.svgNorway
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