SAMSUNG PAY MAKES GALAXY S6 A BETTER MOBILE WALLET

Published on March 2 2015 by ALEX KEYA

Samsung Galaxy S6

Samsung Pay might sound like Apple Pay, but the Korean company's new mobile wallet solution aims to reach far more registers than that of its rivals. Revealed at Mobile World Congress 2015, Samsung Pay will work with both NFC-based and traditional point-of-sale systems when it arrives for the Galaxy S6 and S6 Edge this summer.

Like Apple Pay, Samsung Pay allows for mobile payments via near-field communication (NFC). Unlike Apple Pay, however, Samsung's new platform also uses the company's proprietary Magnetic Secure Transmission (MST) technology to allow for cashless payments at virtually any traditional register that accepts credit cards.

Thanks to this wide range of compatibility, Samsung says that Samsung Pay could potentially be accepted at 30 million retailers around the globe. Using the service is similar in process to Apple Pay: Users register their credit cards with the Samsung Pay app, choose a stored card when they're ready to pay, authorize the purchase with their fingerprint and tap their phone to the point-of-sale terminal.