One of the best low-key benefits of Samsung's Galaxy flagships is Magnetic Secure Transmission (MST) payments, which allow you to use your phone for contactless payments at most credit card readers, as opposed to the NFC-based payments used by other digital wallets that require an explicitly compatible terminal. Samsung and Chase are now teaming up to bring that MST convenience to the Chase Pay app. Of course, a Chase card could be used for MST Payments via Samsung Pay before, but now the Chase Pay app gets that same direct convenience. Read More
Samsung presentations always include a litany of buzzwords and redundant features, some of which are meaningless or borrowed directly from Google and Android, while others point to bigger aspirations. Today's announcement for the Galaxy S6 and S6 Edge introduced a new feature called Samsung Pay, a direct competitor to Google Wallet and Apple Pay. Even though this is just one more product that attempts to have consumers replace their credit cards with a phone, it carries a distinct advantage over NFC-based alternatives: it also works with traditional credit card readers.
Samsung Pay offers two methods for communicating with payment terminals: Near Field Communication (NFC) and Magnetic Secure Transmission (MST). Read More