Samsung Pay Launches In Korea In August, US In September 30
Mark Wilson writes: The main thrust of Samsung's Galaxy Unpacked event was to launch the Galaxy Note 5 and Galaxy S6 Edge+, but the company also provided some details about Samsung Pay. With so many similarly-specced smartphones vying for attention, each manufacturer needs to offer something slightly different, and Samsung is hoping that a new digital payment system will prove attractive to people. Going head to head with Android Pay and Apple Pay is Samsung Pay. As well as offering compatibility with the newly announced Galaxy Note 5 and Galaxy S6 Edge+, Samsung's payment system is supported by many of its older handsets. It will launch in its home country of Korea on August 20, and will spread to the US at the end of September.
Yays (Score:3)
Will spread? (Score:1)
"and will spread to the US at the end of September."
No.... no it won't.
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... this phone thing doesn't really anything except for maybe being easier to find in a purse than the wallet that has the credit card in it.
As I've commented before, I think the marketing for NFC (and pay systems like these) was completely botched. It's not about convenience (or shouldn't be), but should be about security: http://slashdot.org/comments.p... [slashdot.org]
I can get to my credit card in my wallet that is ALWAYS in my pocket, and always in the same pocket, and the card always in the same slot in my wallet, WAAAY faster than I can get my phone out, unlock, do pay thing, lock, put it away (and I don't always carry my phone). Even in extreme cases,
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You pick Visa and then you don't worry about your card not being accepted. Seriously, I can't remember the last time a merchant didn't take visa if they took cards at all.
Sams Club stores only take MasterCard and Discover
http://help.samsclub.com/app/a... [samsclub.com]
Something worth exploiting (Score:1)
People will start testing all those new android flaws...
MST is a dud technology (Score:5, Informative)
Emulating a magnetic card swipe with a magnetic field is a dud.
If doesn't work with chip and pin cards where the terminal has a chip reader, since the mag swipe will be responded with "Please Insert Card".
LoopPay, the company Samsung bought to acquire the technology, says "they're working on it" which is only going to be "we're trying to convince card issuers and terminal providers to removed their fraud protections"
It's also not going to work if your bank uses "Liquid encryption technology[1]", where the magstrip data is updated every time you put your card in their ATM's. It's primary purpose is to stop card skimmers, which LoopPay effectively is. If you scanned your card in to LoopPay then put your real card in an ATM, the next time you use your LoopPay, your bank will lock out your card due to fraud detection, since it will be using the old mag strip data.
[1] [bnz.co.nz]
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Not to mention, it'll be obsoleted Oct 1, 2015 in the US. That's when the implementation of
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In New Zealand we've had chip+pin for many years now. There are no more terminals without a chip reader.
Most are NFC capable as well, except a lot of retailers don't support it because NFC merchant fees are higher than regular credit card and debit cards are pretty much free for them.
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So if you have a a Chip+PIN card, and the store has a magstripe reader, even though their bank supports EMV, any fraud goes to the merchant. If instead the bank doesn't support EMV, then the bank pays out. ...
And to be honest, we've had EMV so long in Canada, I forget about signing the slip on those exceedingly rare times they only have a magstripe reader.
Except that, in the US, they'll be doing chip+signature, not chip+pin. They plan to eventually migrate to chip+pin once EMV is widely adopted (years from now).
And for US folks with a chip+signature card, those still won't work in EU kiosks, since those strictly require chip+pin. IMO, it's a pretty stupid baby-step.
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When I try to swipe a card that has the chip at Walmart, the machine tells me I have to insert the card instead. For stores that don't have the chip, swiping works.
Samsung Pay? What a joke (Score:1, Troll)
More Samsung marketing creativity (Score:2)
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why not use Google wallet? (Score:1)
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That's completely untrue in many countries now.
For small everyday transactions, cash is a real pain to use. You need to carry coins, pay the exact amount, get frequently cash at ATMs (because you may not want to carry a lot of money with you). When you get coins back, you need to put them back in your wallet, not let them fall on the ground, ... 30 seconds instead of 3 with a phone.
Shopkeepers also don't like cash, since they need to frequently move large amounts of money to the bank -- or pay the bank