Samsung cuts US support for MST transactions on new Galaxy phones
Owners of Samsung’s new Galaxy S21 smartphones in the USA will not be able to make payments using Samsung Pay’s magnetic secure transmission (MST) technology... More
Magnetic Secure Transmission (MST)
Samsung Pay reports 1.3bn transactions since launch
Samsung Pay now available in six continents, accelerating global expansion — Samsung — “Originally launched in South Korea on August 20, 2015, Samsung Pay has experienced significant global growth and is now available in six continents and 24 markets, including the latest market, South Africa… Samsung recently passed more than 1.3bn transactions globally.”
Chase Pay links up with Samsung Pay to let cardholders pay with NFC and MST
Chase Pay and Samsung Pay join forces — Samsung — “Chase Pay customers with compatible flagship Samsung Galaxy smartphones now have the option to link Chase Pay to Samsung Pay. This means that customers will now be able to use Samsung Pay’s Magnetic Secure Transmission (MST) technology, along with NFC, to pay with the Chase Pay app at millions of merchants in the United States by simply tapping the payment terminal.”
Samsung Pay goes live in Mexico
Samsung Pay now available in Mexico — Samsung — “To bring this service to Mexico, Samsung strategically partnered with some of the country’s leading financial partners, including payment providers (American Express, MasterCard and Visa); banks (Banorte, Banregio, Citibanamex, HSBC and Santander); and banking acquirers, services and tools such as Clip and iZettle… Samsung Pay’s entry into the Mexican market marks the second Latin American country to receive the service and the 20th market worldwide.”
Samsung Pay adds Visa, Mastercard, Amex and Interac debit options in Canada
Samsung Pay expands in Canada with new partners — Samsung Electronics Canada — “Following a successful introduction with CIBC in the Canadian market, Samsung remains committed to enhancing Samsung Pay and making it a holistic digital wallet extending beyond credit cards with the introduction of debit cards and new partners including Interac Debit, Scotiabank, American Express Canada, ATB Financial, Visa Canada and Mastercard. In addition, Samsung Pay will be made available soon to Tangerine and Peoples Card Services customers.”
eMarketer raises mobile payments forecast for China
eMarketer projects surge in mobile payments in China — eMarketer — “eMarketer has raised its projections by more than 86% for 2017, and now expects 461.4 million people in the country to use a phone to pay at the POS… By 2021, 79.3% of smartphone users will be tapping, scanning and swiping at the POS. By comparison, the US will have 31% of users doing so, and that figure will be 23% in Germany.”
LG Pay goes live in Korea with Wireless Magnetic Communication technology
LG has announced the launch of its LG Pay mobile payments service in Korea, allowing consumers with the LG G6 smartphone to make mobile payments using the service’s Wireless Magnetic Communication (WMC) technology... More
Guide explores key benefits of Samsung Pay
PARTNER NEWS: A 10-page guide that explores how Samsung Pay works and its key benefits is now available to download from the NFC World Knowledge Centre... More
LG to launch mobile payments service using magnetic communication technology
LG will launch its LG Pay mobile payments service in Korea in June this year using a mobile payment technology that works by “generating a magnetic signal from a mobile device such as a smartphone, and paying it to a general credit card terminal”. More
Samsung Pay prepares for India launch
Samsung Pay is testing its mobile payment service in India, and could be launched there in the first half of 2017, SamMobile reports... More
LG to develop its own MST technology?
LG Electronics is working on an alternative to Samsung’s proprietary Magnetic Secure Transmission (MST) technology for mobile payments, Android Authority reports... More
Samsung Pay boss reveals plans for ‘more aggressive expansion’
Samsung Pay is planning “more and more aggressive expansion”, global general manager Thomas Ko has told NFC World in an exclusive interview at Money2020 in Las Vegas, as it emerged a new Deals feature will go live next month and the mobile payments service will operate in Malaysia and Thailand by the end of the year... More
Samsung Pay launches in Australia
Samsung Pay has launched in Australia with support from American Express and Citibank. The service is available for those with compatible Samsung smartphones, with specific availability varying by local operator. More
Samsung Pay records net loss of US$16.8m in 2015
Samsung Pay has recorded a net loss of US$16.8m since the mobile payment service was unveiled in March 2015, despite attracting approximately five million users in South Korea and the US in its first six months... More
CaixaBank will not support MST transactions when it launches Samsung Pay in Spain
Spain’s CaixaBank has revealed that it will not include support for Samsung Pay’s Magnetic Secure Transmission (MST) technology when the bank launches support for the mobile payment service in the coming months... More
SimplyTapp white paper spells out the ABCs of HCE
A white paper that explains how host card emulation (HCE) functions and examines its implications for the future of the payments industry is now available to download from the NFC World Knowledge Centre. More
Samsung responds to LoopPay hack
Samsung has responded to a New York Times report that claimed a hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of Magnetic Secure Transmission (MST) technology that was acquired in February to form a core part of Samsung Pay... More
NYT reports on LoopPay breach
A hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of the Magnetic Secure Transmission (MST) technology that was acquired in February 2015 to form a core part of Samsung Pay, the New York Times reports... More
Ask the Expert: HCE pioneer Doug Yeager — See it now on NFC World
NFC World’s ‘Ask the Expert: HCE pioneer Doug Yeager’ webinar is now available to view online... More
Gemalto partners with Samsung for the launch of Samsung Pay in Europe
PARTNER NEWS: Digital security giant Gemalto has partnered with Samsung to drive the deployment of Samsung Pay across Europe, utilising its Allynis Trusted Service Hub (TSH)... More
