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July 27, 2017 06:00 pm

Samsung Said To Open Its Pay Service, Could Make It Available On Rival Companies' Smartphones

Samsung Pay, the second most OEM-Pay mobile payments service (only second to Apple Pay), may be available on smartphones from other manufacturers, according to a report. From an article: Samsung is in talks with other device makers about bringing Samsung Pay to non-Samsung high-end devices, according to a report from Gadgets 360. Samsung is reportedly aiming to offer Samsung Pay support for these non-Samsung devices by mid-2018. As for how it'll happen, Samsung is said to be considering two options. Samsung Pay relies on MST chips in order to offer contactless payments with non-NFC terminals, and so Samsung is said to be talking with other smartphone makers about adding MST tech to their devices. Another option that Samsung is thinking about is an external accessory like the LoopPay Card Case. This would enable Samsung Pay on supported devices without requiring the phones' manufacturers to add MST tech into their phones. Magnetic Secure Transmission technology is patented to LoopPay, which Samsung acquired two years ago. The feature, which mimics a card swipe, enables Samsung Pay to work on any card swiping machine, an advantage it has over Android Pay and Apple Pay.

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