While becoming the world’s leading smartphone manufacturer, Samsung mobile is also actively promoting its own mobile payment solutions and Bixby smart assistant，with a view to competing more directly with manufacturers such as Apple Pay and Siri.
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Photo Credit: Samsung
Samsung Pay is a mobile payment, electronic cash and membership card management service based on NFC and MST (Magnetic Secure Transmission) technology that allows consumers to Pay with their Samsung phones.
Unfortunately, in actual use, Samsung Pay fails to give consumers a satisfactory experience. Recently, for example, many Samsung Pay users spit out that Samsung pays for the backstage process, consuming too much mobile phone power.
Like the Bixby smart assistant, Samsung Pay isn’t all bad. Although not as popular as Apple Pay, samsung Pay is now building a sizeable network in a number of markets, including the United States..
In addition, compared to mobile payment systems based entirely on near Field communications (NFC), such as Apple pay and Google paid, The MST payment function of Samsung Pay is also compatible with the traditional magnetic stripe card terminal.
This MST payment technology can mimic swiping, which means that Samsung is bound to gain a big advantage in securing business support, because the wireless technology allows businesses to support Samsung Pay services without having to upgrade their payment terminals to be compatible with near-field communications technology.
Samsung accounted for about 28% of the roughly 190 million smartphone subscribers in the U.S. as of June, according to comScore.
As for the problem of excessive power consumption described in this article, although there is currently no list of affected users, but given the user base of Samsung devices, we believe Samsung Pay will give an effective solution.