Samsung

Samsung will have the collaboration of MasterCard to launch Samsung Pay in Europe

Last March Samsung unveiled Samsung Pay, the company's new mobile payment service. Since then, the Korean company has worked directly with MasterCard to try to offer its service to users of its latest mobile devices.

Despite the fact that Samsung Pay is currently only available for testing in South Korea, both companies have confirmed the extension of their agreement with the aim of launching Samsung Pay in Europe. To do this, the idea is to use the MasterCard Digital Enablement Service (MDES). This is undoubtedly good news for all those awaiting the launch of the Korean company's mobile payment platform, although at the moment the date on which to be available on this continent is unknown. We take this opportunity to remember that one of the main differences between Samsung Pay and Apple Pay (its main competitor) is that Samsung's mobile payment service uses the technology known as Magnetic Secure Transmission (MST), which allows the transmission of Magnetic payment information stored in the terminal. This means that Samsung's service is compatible with all existing payment terminals (used to read the information on the credit cards), so that businesses will not be forced to replace them.

At the moment, Samsung is expected to officially launch Samsung Pay in the United States and South Korea this summer.

Source: BusinessWire