The Korean tech giant seems to have grandiose plans for Samsung Pay, its mobile payments platform. Not long after the technology became available in the UK, the leader of the Android smartphone industry is planning on making Samsung Pay available to phones from competitors brands.
As of now, Samsung Pay can be found only on certain devices of the company"s range, especially among the ranks of its flagship models, while some of its mid-ranged phones only support Samsung Pay Mini, a "basic" version that solely offers the ability to make payments online. Users can"t use the offline tap-and-pay ability which is the main advantage of the full-fledged version of Samsung Pay.
In order for other companies to adopt Samsung"s exclusive payments platform, they have to equip their phones with a new chip that brings MST (Magnetic Secure Transmission) technology to their devices. MST functions like the traditional magnetic stripe found on cards but instead of a physical swipe, it simply transmits the magnetic signal to the payments terminal.
Even though Samsung hasn"t officially commented or confirmed these claims, it"s undeniable that they are actively promoting their contactless payments service. Only this year, Samsung Pay launched in India, the UK, and also added PayPal as a payment method within the platform. If the rumors are true, Samsung Pay could be making its debut appearance on Samsung"s rival smartphones in mid-2018.
Source: Gadgets 360°